Weiss Ratings Reaffirms “Sell (E+)” Rating for Ensysce Biosciences (NASDAQ:ENSC)

Ensysce Biosciences (NASDAQ:ENSC)‘s stock had its “sell (e+)” rating reissued by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered Ensysce Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, July 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Ensysce Biosciences Trading Up 1.7%

Shares of NASDAQ ENSC opened at $2.46 on Wednesday. Ensysce Biosciences has a 12 month low of $1.62 and a 12 month high of $14.67. The firm has a market capitalization of $7.30 million, a price-to-earnings ratio of -0.61 and a beta of 1.10. The business has a 50-day moving average of $2.17 and a 200-day moving average of $2.26.

Ensysce Biosciences (NASDAQ:ENSC) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.79) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.23. Ensysce Biosciences had a negative return on equity of 167.23% and a negative net margin of 88.76%.The company had revenue of $1.37 million during the quarter, compared to analyst estimates of $0.67 million. On average, analysts predict that Ensysce Biosciences will post -8.33 earnings per share for the current year.

Hedge Funds Weigh In On Ensysce Biosciences

A hedge fund recently bought a new stake in Ensysce Biosciences stock. Murchinson Ltd. acquired a new position in Ensysce Biosciences, Inc. (NASDAQ:ENSC) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 140,000 shares of the company’s stock, valued at approximately $358,000. Murchinson Ltd. owned approximately 5.90% of Ensysce Biosciences at the end of the most recent quarter. 5.63% of the stock is currently owned by institutional investors and hedge funds.

About Ensysce Biosciences

Ensysce Biosciences, Inc, a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection (TAAP) platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR) platform, an over-dose protection opioid prodrug technology.