Enveric Biosciences (NASDAQ:ENVB) Shares Up 5.9%

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) shot up 5.9% during trading on Friday . The stock traded as high as $1.02 and last traded at $0.98. 203,914 shares changed hands during trading, a decline of 94% from the average session volume of 3,225,290 shares. The stock had previously closed at $0.93.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Enveric Biosciences in a research report on Tuesday, January 30th.

Enveric Biosciences Stock Up 5.9 %

The company has a market cap of $7.14 million, a PE ratio of -0.12 and a beta of 0.82. The business’s fifty day moving average is $1.06 and its 200-day moving average is $1.25.

Enveric Biosciences (NASDAQ:ENVB) last issued its quarterly earnings results on Monday, March 25th. The company reported ($1.46) earnings per share for the quarter, beating the consensus estimate of ($1.55) by $0.09. Analysts forecast that Enveric Biosciences, Inc. will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Enveric Biosciences

A hedge fund recently bought a new stake in Enveric Biosciences stock. Armistice Capital LLC purchased a new position in Enveric Biosciences, Inc. (NASDAQ:ENVB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 273,000 shares of the company’s stock, valued at approximately $355,000. Armistice Capital LLC owned about 9.96% of Enveric Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.