Anebulo Pharmaceuticals (NASDAQ:ANEB) Issues Earnings Results

Anebulo Pharmaceuticals (NASDAQ:ANEB) announced its earnings results on Monday. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05), Zacks reports.

Anebulo Pharmaceuticals Stock Up 0.8%

Anebulo Pharmaceuticals stock traded up $0.02 during mid-day trading on Monday, reaching $2.42. 11,569 shares of the company’s stock traded hands, compared to its average volume of 160,758. The company has a market cap of $99.41 million, a price-to-earnings ratio of -9.31 and a beta of -0.89. The stock has a 50 day moving average of $2.53 and a two-hundred day moving average of $1.72. Anebulo Pharmaceuticals has a 12-month low of $0.80 and a 12-month high of $3.42.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. acquired a new stake in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned approximately 0.12% of Anebulo Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group lowered shares of Anebulo Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Anebulo Pharmaceuticals Company Profile

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.