Ensysce Biosciences (NASDAQ:ENSC) Posts Earnings Results, Beats Estimates By $0.21 EPS

Ensysce Biosciences (NASDAQ:ENSC) announced its quarterly earnings data on Friday. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.21, FiscalAI reports. Ensysce Biosciences had a negative net margin of 200.87% and a negative return on equity of 426.62%. The firm had revenue of $0.96 million during the quarter, compared to analyst estimates of $1.90 million.

Ensysce Biosciences Trading Up 1.0%

NASDAQ ENSC traded up $0.00 during trading on Friday, hitting $0.28. The company had a trading volume of 838,484 shares, compared to its average volume of 5,132,843. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75. The company has a market cap of $2.60 million, a price-to-earnings ratio of -0.07 and a beta of 0.87. The company’s fifty day moving average is $0.48 and its 200-day moving average is $0.94.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ENSC. Adage Capital Partners GP L.L.C. raised its holdings in Ensysce Biosciences by 100.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after purchasing an additional 75,000 shares in the last quarter. DRW Securities LLC raised its holdings in Ensysce Biosciences by 42.4% in the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after purchasing an additional 29,336 shares in the last quarter. Citadel Advisors LLC bought a new position in Ensysce Biosciences in the 3rd quarter worth $34,000. Finally, Virtu Financial LLC bought a new position in Ensysce Biosciences in the 3rd quarter worth $34,000. 5.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ensysce Biosciences currently has a consensus rating of “Sell”.

About Ensysce Biosciences

Ensysce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel prodrug therapies aimed at improving pain management and addressing opioid misuse. Leveraging its proprietary prodrug platform, the company designs drug candidates that convert into active pharmaceuticals through specific enzymatic action, providing controlled-release profiles and built-in abuse deterrence features.

The company’s lead product candidate, ENS100, is an investigational oral prodrug of hydrocodone engineered to reduce the potential for misuse and abuse compared to immediate-release opioid formulations.