Ensysce Biosciences (NASDAQ:ENSC) Posts Earnings Results, Beats Expectations By $0.17 EPS

Ensysce Biosciences (NASDAQ:ENSC) announced its quarterly earnings results on Monday. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.17, reports. The business had revenue of $1.88 million during the quarter, compared to the consensus estimate of $0.50 million. Ensysce Biosciences had a negative net margin of 244.47% and a negative return on equity of 437.31%.

Ensysce Biosciences Trading Down 2.6%

NASDAQ ENSC traded down $0.01 during trading hours on Monday, reaching $0.51. The company had a trading volume of 184,068 shares, compared to its average volume of 6,204,540. The stock has a market capitalization of $1.87 million, a P/E ratio of -0.08 and a beta of 1.14. The stock has a 50-day moving average of $0.57 and a 200 day moving average of $1.35. Ensysce Biosciences has a 1-year low of $0.31 and a 1-year high of $4.85.

Institutional Investors Weigh In On Ensysce Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in ENSC. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences during the third quarter worth $34,000. Virtu Financial LLC acquired a new stake in shares of Ensysce Biosciences in the third quarter valued at $34,000. DRW Securities LLC boosted its holdings in Ensysce Biosciences by 42.4% in the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after purchasing an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Ensysce Biosciences by 100.4% in 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 purchasing an additional 75,000 shares during the period. 5.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ensysce Biosciences currently 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.