Ensysce Biosciences (NASDAQ:ENSC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ensysce Biosciences (NASDAQ:ENSC) to a hold rating in a report released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Ensysce Biosciences Stock Down 17.2%

Shares of NASDAQ:ENSC opened at $0.43 on Friday. The stock has a market cap of $6.62 million, a price-to-earnings ratio of -0.13 and a beta of 0.84. The business’s 50 day moving average is $0.29 and its 200 day moving average is $0.42. Ensysce Biosciences has a 12-month low of $0.23 and a 12-month high of $2.75.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.21. The business had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $1.00 million. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%. As a group, equities research analysts expect that Ensysce Biosciences will post -1.53 earnings per share for the current year.

Institutional Trading of Ensysce Biosciences

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Ensysce Biosciences in the 3rd quarter valued at about $34,000. Citadel Advisors LLC purchased a new stake in shares of Ensysce Biosciences during the 3rd quarter valued at approximately $34,000. DRW Securities LLC lifted its stake in shares of Ensysce Biosciences by 42.4% during the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after buying an additional 29,336 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Ensysce Biosciences by 100.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock worth $138,000 after buying an additional 75,000 shares during the period. 5.63% of the stock is currently owned by institutional investors.

About Ensysce Biosciences

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.