Enveric Biosciences (NASDAQ:ENVB) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Enveric Biosciences (NASDAQ:ENVB) to a sell rating in a research report released on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Enveric Biosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Enveric Biosciences currently has an average rating of “Hold” and a consensus target price of $120.00.

Enveric Biosciences Price Performance

Shares of NASDAQ ENVB traded up $0.07 during mid-day trading on Friday, hitting $6.11. The company’s stock had a trading volume of 44,594 shares, compared to its average volume of 97,259. Enveric Biosciences has a one year low of $5.52 and a one year high of $96.30. The company’s fifty day simple moving average is $8.63 and its 200-day simple moving average is $12.83. The stock has a market cap of $3.16 million, a price-to-earnings ratio of -0.09 and a beta of 0.58.

Enveric Biosciences (NASDAQ:ENVB) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($11.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($63.00) by $51.36. On average, sell-side analysts predict that Enveric Biosciences will post -31.18 EPS for the current year.

Institutional Investors Weigh In On Enveric Biosciences

An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC grew its position in Enveric Biosciences, Inc. (NASDAQ:ENVB) by 14.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,679 shares of the company’s stock after purchasing an additional 13,355 shares during the period. AdvisorShares Investments LLC owned about 4.20% of Enveric Biosciences worth $125,000 at the end of the most recent reporting period. Institutional investors own 13.82% of the company’s stock.

Enveric Biosciences Company Profile

Enveric Biosciences, Inc, a biotechnology company, engages in the development of small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Its lead product candidates are EB-002, an active metabolite of psilocybin, which is in preclinical development stage for the treatment of anxiety disorders; and EB-003 that is in preclinical development stage for the treatment mental health.