Ensysce Biosciences (NASDAQ:ENSC) Stock Rating Upgraded by Wall Street Zen

Ensysce Biosciences (NASDAQ:ENSC) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Ensysce Biosciences Stock Performance

NASDAQ ENSC opened at $2.23 on Friday. The firm’s 50 day moving average price is $2.22 and its two-hundred day moving average price is $2.23. The stock has a market cap of $6.62 million, a price-to-earnings ratio of -0.55 and a beta of 1.10. Ensysce Biosciences has a twelve month low of $1.62 and a twelve month high of $14.67.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.23. The business had revenue of $1.37 million for the quarter, compared to the consensus estimate of $0.67 million. Ensysce Biosciences had a negative return on equity of 167.23% and a negative net margin of 88.76%. On average, research analysts forecast that Ensysce Biosciences will post -8.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Ensysce Biosciences

A number of hedge funds have recently added to or reduced their stakes in ENSC. Murchinson Ltd. bought a new position in Ensysce Biosciences during the first quarter valued at approximately $358,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Ensysce Biosciences by 49.4% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 74,711 shares of the company’s stock worth $191,000 after purchasing an additional 24,711 shares during the last quarter. Finally, TRU Independence Asset Management 2 LLC bought a new position in shares of Ensysce Biosciences during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 5.63% of the company’s stock.

About Ensysce Biosciences

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection (TAAP) platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR) platform, an over-dose protection opioid prodrug technology.