Anebulo Pharmaceuticals (NASDAQ:ANEB) Stock Price Down 9.8% – Should You Sell?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB)’s stock price dropped 9.8% on Thursday . The company traded as low as $0.93 and last traded at $1.11. Approximately 130,346 shares changed hands during trading, an increase of 1,663% from the average daily volume of 7,393 shares. The stock had previously closed at $1.23.

Analyst Ratings Changes

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $8.00 target price on shares of Anebulo Pharmaceuticals in a research note on Tuesday, November 19th.

Anebulo Pharmaceuticals Stock Down 9.8 %

The stock has a market cap of $28.79 million, a PE ratio of -3.70 and a beta of -1.09. The business’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.96.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Wednesday, September 25th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. As a group, equities research analysts anticipate that Anebulo Pharmaceuticals, Inc. will post -0.52 earnings per share for the current fiscal year.

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.