Ensysce Biosciences (NASDAQ:ENSC) Trading Down 9.8% – What’s Next?

Ensysce Biosciences, Inc. (NASDAQ:ENSC) dropped 9.8% during mid-day trading on Tuesday . The company traded as low as $0.50 and last traded at $0.52. Approximately 3,927,926 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 7,956,333 shares. The stock had previously closed at $0.58.

Ensysce Biosciences Price Performance

The stock has a market capitalization of $4.60 million, a price-to-earnings ratio of -0.19 and a beta of 0.63. The stock’s 50 day simple moving average is $0.33 and its 200-day simple moving average is $0.45.

Ensysce Biosciences (NASDAQ:ENSC) last posted its earnings results on Wednesday, August 14th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.17. Ensysce Biosciences had a negative net margin of 784.35% and a negative return on equity of 834.40%. The firm had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.30 million. As a group, equities research analysts anticipate that Ensysce Biosciences, Inc. will post -1.43 earnings per share for the current fiscal year.

Ensysce Biosciences Company Profile

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.