Ensysce Biosciences (NASDAQ:ENSC) Stock Picked Up by Analysts at UBS Group

Analysts at UBS Group assumed coverage on shares of Ensysce Biosciences (NASDAQ:ENSC) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $2.00 price target on the stock. UBS Group‘s target price indicates a potential upside of 455.40% from the stock’s current price.

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

Ensysce Biosciences Stock Performance

Shares of ENSC opened at $0.36 on Thursday. Ensysce Biosciences has a 52 week low of $0.23 and a 52 week high of $2.17. The business’s fifty day moving average price is $0.45 and its two-hundred day moving average price is $0.42. The firm has a market capitalization of $7.01 million, a price-to-earnings ratio of -0.13 and a beta of 1.11.

Ensysce Biosciences (NASDAQ:ENSC) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. As a group, research analysts forecast that Ensysce Biosciences will post -0.60 EPS for the current year.

Hedge Funds Weigh In On Ensysce Biosciences

A hedge fund recently bought a new position in Ensysce Biosciences stock. StoneX Group Inc. purchased a new stake in shares of Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,563 shares of the company’s stock, valued at approximately $58,000. StoneX Group Inc. owned about 0.71% of Ensysce Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 5.63% of the company’s stock.

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.