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

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

Ensysce Biosciences Stock Down 12.6%

Ensysce Biosciences stock traded down $0.05 during trading on Thursday, reaching $0.35. The stock had a trading volume of 2,574,177 shares, compared to its average volume of 8,938,876. Ensysce Biosciences has a 52-week low of $0.23 and a 52-week high of $2.75. The stock has a market cap of $5.36 million, a PE ratio of -0.10 and a beta of 0.84. The business has a 50 day moving average price of $0.30 and a 200 day moving average price of $0.41.

Analysts Set New Price Targets

ENSC has been the topic of several research reports. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ensysce Biosciences currently has a consensus rating of “Sell”.

Institutional Trading of Ensysce Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of 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 valued at $138,000 after acquiring an additional 75,000 shares during the last quarter. DRW Securities LLC lifted its stake in Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after purchasing an additional 29,336 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Ensysce Biosciences during the third quarter worth approximately $34,000. Finally, Virtu Financial LLC acquired a new position in Ensysce Biosciences in the third quarter valued at approximately $34,000. 5.63% of the stock is currently owned by institutional investors and hedge funds.

Ensysce Biosciences Company Profile

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.