Enveric Biosciences (NASDAQ:ENVB) Posts Earnings Results, Beats Expectations By $52.19 EPS

Enveric Biosciences (NASDAQ:ENVB) posted its quarterly earnings results on Friday. The company reported ($10.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($63.00) by $52.19, FiscalAI reports.

Enveric Biosciences Stock Down 3.3%

Enveric Biosciences stock traded down $0.18 during trading hours on Friday, hitting $5.28. 27,522 shares of the company traded hands, compared to its average volume of 95,629. The firm has a market cap of $2.74 million, a P/E ratio of -0.08 and a beta of 0.58. The firm’s 50-day simple moving average is $7.95 and its two-hundred day simple moving average is $12.49. Enveric Biosciences has a 1-year low of $5.20 and a 1-year high of $96.30.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its position in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 103,679 shares of the company’s stock after purchasing an additional 13,355 shares during the period. AdvisorShares Investments LLC owned approximately 4.20% of Enveric Biosciences worth $125,000 as of its most recent SEC filing. 13.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Enveric Biosciences to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $120.00.

Enveric Biosciences Company Profile

Enveric Biosciences, Inc, a biotechnology company, engages in the development of small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Its lead product candidates are EB-002, an active metabolite of psilocybin, which is in preclinical development stage for the treatment of anxiety disorders; and EB-003 that is in preclinical development stage for the treatment mental health.