Ensysce Biosciences (NASDAQ:ENSC) Announces Earnings Results

Ensysce Biosciences (NASDAQ:ENSC) released its quarterly earnings results on Thursday. The company reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($4.40), FiscalAI reports. Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%. The company had revenue of $2.18 million during the quarter, compared to analysts’ expectations of $1.20 million.

Ensysce Biosciences Stock Performance

Shares of Ensysce Biosciences stock traded up $0.03 on Thursday, reaching $0.39. 389,073 shares of the company were exchanged, compared to its average volume of 6,581,382. The firm has a market cap of $7.53 million, a price-to-earnings ratio of -0.14 and a beta of 1.11. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.17. The company’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.42.

Wall Street Analyst Weigh In

ENSC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Ensysce Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 30th. Cantor Fitzgerald initiated coverage on shares of Ensysce Biosciences in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 price objective for the company. Finally, UBS Group assumed coverage on Ensysce Biosciences in a research note on Thursday. They set a “buy” rating and a $2.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Ensysce Biosciences has a consensus rating of “Hold” and a consensus target price of $2.00.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc. is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing. Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.