Ensysce Biosciences (NASDAQ:ENSC) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Ensysce Biosciences (NASDAQ:ENSC) to a hold rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Ensysce Biosciences Price Performance

NASDAQ ENSC opened at $0.52 on Friday. The firm has a market capitalization of $8.00 million, a P/E ratio of -0.16 and a beta of 0.84. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.75. The business’s 50-day simple moving average is $0.29 and its 200-day simple moving average is $0.42.

Ensysce Biosciences (NASDAQ:ENSC) last issued its earnings results on Friday, May 15th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.21. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%.The business had revenue of $0.96 million during the quarter, compared to analysts’ expectations of $1.00 million. On average, equities research analysts expect that Ensysce Biosciences will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Ensysce Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. lifted its position in Ensysce Biosciences by 100.4% during the 4th 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 in the last quarter. DRW Securities LLC grew its position in Ensysce Biosciences by 42.4% in the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after acquiring an additional 29,336 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Ensysce Biosciences in the third quarter valued at approximately $34,000. Finally, Virtu Financial LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.