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

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

Enveric Biosciences Stock Down 3.3%

Shares of ENVB traded down $0.18 during midday trading on Friday, hitting $5.28. The company’s stock had a trading volume of 27,522 shares, compared to its average volume of 95,629. Enveric Biosciences has a one year low of $5.20 and a one year high of $96.30. The stock has a market capitalization of $2.74 million, a price-to-earnings ratio of -0.08 and a beta of 0.58. The company’s fifty day simple moving average is $7.95 and its two-hundred day simple moving average is $12.49.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Enveric Biosciences stock. AdvisorShares Investments LLC grew its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,679 shares of the company’s stock after acquiring an additional 13,355 shares during the quarter. AdvisorShares Investments LLC owned 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent quarter. 13.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

About Enveric Biosciences

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.