Ensysce Biosciences (NASDAQ:ENSC) Announces Earnings Results, Misses Estimates By $4.40 EPS

Ensysce Biosciences (NASDAQ:ENSC) released its earnings results on Thursday. The company reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($4.40), FiscalAI reports. The firm had revenue of $2.18 million during the quarter, compared to analyst estimates of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%.

Ensysce Biosciences Trading Up 7.5%

NASDAQ:ENSC traded up $0.03 during mid-day trading on Thursday, hitting $0.39. The stock had a trading volume of 389,073 shares, compared to its average volume of 297,048. The stock has a 50-day simple moving average of $0.45 and a two-hundred day simple moving average of $0.41. The company has a market capitalization of $7.53 million, a PE ratio of -0.14 and a beta of 1.11. Ensysce Biosciences has a twelve month low of $0.23 and a twelve month high of $2.17.

Analyst Ratings Changes

Several brokerages have commented on ENSC. Cantor Fitzgerald initiated coverage on shares of Ensysce Biosciences in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 price target for the company. Weiss Ratings raised Ensysce Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 30th. UBS Group began coverage on Ensysce Biosciences in a research report on Thursday. They set a “buy” rating and a $2.00 price objective on the stock. Finally, Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.00.

About Ensysce Biosciences

Ensysce Biosciences, Inc. is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing. Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.