Ensysce Biosciences (NASDAQ:ENSC) Trading 6.5% Higher

Posted by on Oct 19th, 2023

Ensysce Biosciences, Inc. (NASDAQ:ENSC – Get Free Report)’s share price traded up 6.5% during mid-day trading on Wednesday . The stock traded as high as $1.75 and last traded at $1.73. 150,201 shares were traded during mid-day trading, a decline of 58% from the average session volume of 361,646 shares. The stock had previously closed at $1.62.

Wall Street Analyst Weigh In

Separately, HC Wainwright dropped their target price on Ensysce Biosciences from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 25th.

Read Our Latest Stock Analysis on ENSC

Ensysce Biosciences Stock Performance

The stock has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $2.35. The company has a market cap of $4.93 million, a P/E ratio of -0.02 and a beta of 0.58.

Ensysce Biosciences (NASDAQ:ENSC – Get Free Report) last released its earnings results on Friday, August 11th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($2.73) by $1.75. The firm had revenue of $0.49 million during the quarter, compared to analyst estimates of $0.83 million. Sell-side analysts anticipate that Ensysce Biosciences, Inc. will post -5.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ensysce Biosciences

A number of institutional investors have recently made changes to their positions in ENSC. Two Sigma Investments LP acquired a new stake in shares of Ensysce Biosciences during the fourth quarter worth $30,000. Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences in the first quarter worth about $65,000. Finally, Anson Funds Management LP bought a new stake in shares of Ensysce Biosciences in the second quarter worth about $65,000. 30.97% of the stock is owned by institutional investors and hedge funds.

About Ensysce Biosciences

(Get Free Report)

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance platform, an over-dose protection opioid prodrug technology.

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