Enveric Biosciences (NASDAQ:ENVB) Earns Buy Rating from Analysts at Alliance Global Partners

Investment analysts at Alliance Global Partners initiated coverage on shares of Enveric Biosciences (NASDAQ:ENVBGet Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Aegis cut Enveric Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. Maxim Group cut their target price on Enveric Biosciences to $0.50 in a research note on Thursday, May 26th. Finally, Zacks Investment Research lowered Enveric Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.

ENVB opened at $0.20 on Wednesday. Enveric Biosciences has a 1-year low of $0.17 and a 1-year high of $3.74. The business has a 50 day moving average of $0.27 and a 200-day moving average of $0.61.

Enveric Biosciences (NASDAQ:ENVBGet Rating) last posted its quarterly earnings data on Thursday, March 31st. The company reported ($0.14) earnings per share for the quarter. As a group, sell-side analysts predict that Enveric Biosciences will post -0.3 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ENVB. Citadel Advisors LLC acquired a new position in shares of Enveric Biosciences in the second quarter valued at $31,000. Vident Investment Advisory LLC acquired a new position in Enveric Biosciences during the third quarter worth $52,000. Geode Capital Management LLC raised its stake in Enveric Biosciences by 16.6% during the third quarter. Geode Capital Management LLC now owns 115,262 shares of the company’s stock worth $238,000 after acquiring an additional 16,368 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Enveric Biosciences during the third quarter worth $1,020,000. Finally, Two Sigma Investments LP acquired a new position in Enveric Biosciences during the third quarter worth $91,000. Institutional investors and hedge funds own 9.60% of the company’s stock.

About Enveric Biosciences (Get Rating)

Enveric Biosciences, Inc, a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. It has a pipeline of development programs for radiodermatitis, glioblastoma multiforme, pruritus, rashes, and dry skin and chemotherapy-induced neuropathy. The company is headquartered in Naples, Florida.

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