Ensysce Biosciences (NASDAQ:ENSC) Announces Earnings Results, Beats Expectations By $0.30 EPS

Ensysce Biosciences (NASDAQ:ENSC) released its quarterly earnings data on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.30, FiscalAI reports. The company had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.90 million. Ensysce Biosciences had a negative net margin of 250.39% and a negative return on equity of 766.45%.

Ensysce Biosciences Trading Down 12.6%

Shares of Ensysce Biosciences stock traded down $0.05 during trading hours on Thursday, hitting $0.35. 2,574,177 shares of the company were exchanged, compared to its average volume of 8,938,876. The business has a 50-day moving average of $0.30 and a 200-day moving average of $0.41. Ensysce Biosciences has a 1 year low of $0.23 and a 1 year high of $2.75. The stock has a market capitalization of $5.36 million, a price-to-earnings ratio of -0.10 and a beta of 0.84.

Analyst Upgrades and Downgrades

ENSC has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Ensysce Biosciences presently has an average rating of “Sell”.

Institutional Trading of Ensysce Biosciences

Several hedge funds have recently made changes to their positions in ENSC. Adage Capital Partners GP L.L.C. increased its stake in shares of Ensysce Biosciences by 100.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after acquiring an additional 75,000 shares during the period. DRW Securities LLC boosted 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 valued at $91,000 after purchasing an additional 29,336 shares in the last quarter. Citadel Advisors LLC acquired a new position in Ensysce Biosciences during the 3rd quarter worth approximately $34,000. Finally, Virtu Financial LLC acquired a new position in Ensysce Biosciences during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 5.63% of the company’s stock.

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.