Enveric Biosciences (NASDAQ:ENVB) Trading 4.2% Higher – Still a Buy?

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) were up 4.2% during mid-day trading on Monday . The company traded as high as $1.5378 and last traded at $1.48. 104,186 shares traded hands during trading, an increase of 2% from the average daily volume of 101,824 shares. The stock had previously closed at $1.42.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENVB. Wall Street Zen upgraded Enveric Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Enveric Biosciences Stock Up 4.2%

The stock has a 50-day moving average of $1.42 and a 200 day moving average of $1.93. The company has a market capitalization of $6.63 million, a PE ratio of -0.12 and a beta of 1.11.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.76) earnings per share for the quarter.

Enveric Biosciences Company Profile

Enveric Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of novel psychedelic-based therapeutics for the treatment of psychiatric and neurological disorders. The company’s research platform leverages proprietary medicinal chemistry to design, synthesize and optimize molecules derived from established psychoactive compounds, with a goal of improving safety, efficacy and tolerability compared with traditional formulations.

Enveric’s preclinical pipeline features synthetic analogs of ibogaine, psilocybin and MDMA, each engineered to enhance therapeutic outcomes in conditions such as post-traumatic stress disorder, major depressive disorder and anxiety.