Ensysce Biosciences (NASDAQ:ENSC) Releases Earnings Results, Beats Estimates By $0.30 EPS

Ensysce Biosciences (NASDAQ:ENSC) issued its earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.30, FiscalAI reports. Ensysce Biosciences had a negative return on equity of 766.45% and a negative net margin of 250.39%.The company had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $1.90 million.

Ensysce Biosciences Stock Down 12.6%

Ensysce Biosciences stock traded down $0.05 during midday trading on Thursday, hitting $0.35. 2,574,177 shares of the stock were exchanged, compared to its average volume of 41,980,900. Ensysce Biosciences has a 52-week low of $0.23 and a 52-week high of $2.75. The business’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.41.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Friday, July 17th. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ENSC. Citadel Advisors LLC purchased a new stake in Ensysce Biosciences during the third quarter worth about $34,000. Virtu Financial LLC purchased a new position in Ensysce Biosciences in the third quarter valued at about $34,000. DRW Securities LLC grew its position 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 acquiring an additional 29,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Ensysce Biosciences by 100.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock valued at $138,000 after acquiring an additional 75,000 shares during the period. Institutional investors own 5.63% of the company’s stock.

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.