Ensysce Biosciences (NASDAQ:ENSC) Stock Rated “Buy” in New Coverage at UBS Group

UBS Group assumed coverage on shares of Ensysce Biosciences (NASDAQ:ENSC) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $2.00 price target on the stock.

A number of other research firms also recently commented on ENSC. Weiss Ratings upgraded Ensysce Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 30th. Wall Street Zen upgraded Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald initiated coverage on Ensysce Biosciences in a report on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 price target for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ensysce Biosciences currently has a consensus rating of “Hold” and a consensus target price of $2.00.

Ensysce Biosciences Price Performance

ENSC traded up $0.03 during trading on Thursday, hitting $0.42. The company had a trading volume of 415,982 shares, compared to its average volume of 299,966. The company has a market cap of $8.14 million, a PE ratio of -0.07 and a beta of 1.11. The business has a 50-day moving average of $0.45 and a 200-day moving average of $0.41. Ensysce Biosciences has a 1-year low of $0.23 and a 1-year high of $2.17.

Ensysce Biosciences (NASDAQ:ENSC) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($4.37). The company had revenue of $2.18 million for the quarter, compared to analyst estimates of $1.28 million. Ensysce Biosciences had a negative return on equity of 3,069.50% and a negative net margin of 1,473.79%. Research analysts forecast that Ensysce Biosciences will post -0.60 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ensysce Biosciences stock. StoneX Group Inc. bought a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 138,563 shares of the company’s stock, valued at approximately $58,000. StoneX Group Inc. owned 0.71% of Ensysce Biosciences at the end of the most recent reporting period. 5.63% of the stock is owned by hedge funds and other institutional investors.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc. is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing. Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.