Ensysce Biosciences (NASDAQ:ENSC) Now Covered by Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Ensysce Biosciences (NASDAQ:ENSC) in a report issued on Tuesday, Marketbeat reports. The firm set an “overweight” rating and a $2.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 297.69% from the stock’s previous close.

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

Ensysce Biosciences Stock Performance

NASDAQ ENSC opened at $0.50 on Tuesday. The firm’s fifty day moving average price is $0.44 and its two-hundred day moving average price is $0.38. The stock has a market cap of $9.79 million, a PE ratio of -0.18 and a beta of 1.00. Ensysce Biosciences has a fifty-two week low of $0.23 and a fifty-two week high of $2.66.

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

Insider Activity at Ensysce Biosciences

In other Ensysce Biosciences news, Director Bob Gower acquired 400,000 shares of Ensysce Biosciences stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $0.49 per share, with a total value of $196,000.00. Following the completion of the purchase, the director directly owned 916,740 shares in the company, valued at $449,202.60. This trade represents a 77.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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.