Anebulo Pharmaceuticals (NASDAQ:ANEB) Posts Earnings Results, Hits Expectations

Anebulo Pharmaceuticals (NASDAQ:ANEB) announced its earnings results on Monday. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05), Zacks reports.

Anebulo Pharmaceuticals Stock Up 0.8%

ANEB stock opened at $2.42 on Tuesday. The business has a fifty day moving average of $2.54 and a 200-day moving average of $1.72. The company has a market cap of $99.41 million, a P/E ratio of -9.31 and a beta of -0.89. Anebulo Pharmaceuticals has a twelve month low of $0.80 and a twelve month high of $3.42.

Analyst Upgrades and Downgrades

Separately, Maxim Group downgraded shares of Anebulo Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Institutional Investors Weigh In On Anebulo Pharmaceuticals

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. bought a new stake in Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,954 shares of the company’s stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned 0.12% of Anebulo Pharmaceuticals at the end of the most recent quarter. 28.40% of the stock is owned by institutional investors and hedge funds.

Anebulo Pharmaceuticals Company Profile

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.