Ensysce Biosciences (NASDAQ:ENSC) Stock Rated “Overweight” in New Coverage at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald began coverage on shares of Ensysce Biosciences (NASDAQ:ENSC) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $2.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 297.69% from the stock’s current price.

A number of other equities analysts also recently weighed in on ENSC. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Thursday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.00.

Ensysce Biosciences Stock Performance

Ensysce Biosciences stock opened at $0.50 on Tuesday. Ensysce Biosciences has a 52-week low of $0.23 and a 52-week high of $2.66. The firm has a 50 day moving average price of $0.44 and a two-hundred day moving average price of $0.38. The firm has a market cap of $9.79 million, a price-to-earnings ratio of -0.18 and a beta of 1.00.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.20 million. As a group, equities research analysts predict that Ensysce Biosciences will post -1.09 EPS for the current fiscal year.

Insider Activity

In other Ensysce Biosciences news, Director Bob Gower purchased 400,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $0.49 per share, for a total transaction of $196,000.00. Following the acquisition, the director owned 916,740 shares of the company’s stock, valued at approximately $449,202.60. This represents a 77.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

About Ensysce Biosciences

Ensysce Biosciences, Inc (NASDAQ:ENSC) is a clinical-stage biotechnology company developing prescription pain medicines designed to address opioid abuse, misuse and overdose. The company’s technology platform is intended to create opioid formulations that provide pain relief when used as prescribed while making the drugs more difficult to manipulate for nonmedical use.

Ensysce’s lead program, PF614, is an extended-release oxycodone prodrug designed to use the body’s digestive processes to release oxycodone after oral administration.