Anebulo Pharmaceuticals (NASDAQ:ANEB) Issues Quarterly Earnings Results, Hits Estimates

Anebulo Pharmaceuticals (NASDAQ:ANEB) posted its quarterly earnings results on Monday. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05), Zacks reports.

Anebulo Pharmaceuticals Stock Up 0.8%

Shares of Anebulo Pharmaceuticals stock traded up $0.02 during trading hours on Monday, reaching $2.42. 11,569 shares of the company’s stock were exchanged, compared to its average volume of 160,758. Anebulo Pharmaceuticals has a 1 year low of $0.80 and a 1 year high of $3.42. The company has a market capitalization of $99.41 million, a P/E ratio of -9.31 and a beta of -0.89. The business has a fifty day moving average of $2.53 and a two-hundred day moving average of $1.72.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. bought a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned about 0.12% of Anebulo Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group downgraded shares of Anebulo Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.50.

About Anebulo Pharmaceuticals

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.