Ensysce Biosciences (NASDAQ:ENSC) Announces Quarterly Earnings Results

Ensysce Biosciences (NASDAQ:ENSC) announced its quarterly 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 net margin of 250.39% and a negative return on equity of 766.45%. The firm had revenue of $1.16 million for the quarter, compared to the consensus estimate of $1.90 million.

Ensysce Biosciences Stock Up 7.0%

Shares of Ensysce Biosciences stock traded up $0.02 during trading hours on Friday, reaching $0.37. 1,287,475 shares of the stock traded hands, compared to its average volume of 8,890,227. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75. The firm has a market capitalization of $5.73 million, a price-to-earnings ratio of -0.11 and a beta of 0.84. The company has a 50 day moving average price of $0.30 and a 200 day moving average price of $0.41.

Hedge Funds Weigh In On Ensysce Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its holdings in Ensysce Biosciences by 100.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock valued at $138,000 after buying an additional 75,000 shares during the last quarter. DRW Securities LLC boosted its stake in shares of Ensysce Biosciences by 42.4% during the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after acquiring an additional 29,336 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Ensysce Biosciences during the 3rd quarter worth $34,000. Finally, Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 5.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ENSC shares. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

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.