HC Wainwright Reiterates Buy Rating for Enveric Biosciences (NASDAQ:ENVB)

Enveric Biosciences (NASDAQ:ENVBGet Free Report)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Tuesday, MarketBeat reports. They presently have a $10.00 price objective on the stock. HC Wainwright also issued estimates for Enveric Biosciences’ Q4 2023 earnings at ($1.50) EPS, FY2023 earnings at ($8.10) EPS, FY2024 earnings at ($1.87) EPS, FY2025 earnings at ($0.63) EPS, FY2026 earnings at ($0.76) EPS, FY2027 earnings at ($0.62) EPS and FY2028 earnings at ($0.24) EPS.

Enveric Biosciences Stock Performance

Shares of ENVB opened at $0.74 on Tuesday. The stock has a fifty day moving average price of $1.29 and a two-hundred day moving average price of $1.88. Enveric Biosciences has a 52-week low of $0.71 and a 52-week high of $6.98. The company has a market cap of $2.02 million, a price-to-earnings ratio of -0.06 and a beta of 0.84.

Enveric Biosciences (NASDAQ:ENVBGet Free Report) last released its quarterly earnings results on Monday, November 13th. The company reported ($1.30) EPS for the quarter, beating the consensus estimate of ($1.93) by $0.63. As a group, research analysts predict that Enveric Biosciences will post -8.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Enveric Biosciences by 259.2% in the first quarter. Renaissance Technologies LLC now owns 1,990,600 shares of the company’s stock valued at $657,000 after purchasing an additional 1,436,500 shares during the last quarter. UBS Group AG increased its stake in shares of Enveric Biosciences by 601.0% in the 1st quarter. UBS Group AG now owns 97,904 shares of the company’s stock valued at $32,000 after acquiring an additional 83,938 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Enveric Biosciences by 96.3% in the 1st quarter. Virtu Financial LLC now owns 276,184 shares of the company’s stock valued at $91,000 after acquiring an additional 135,474 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Enveric Biosciences in the 2nd quarter valued at approximately $49,000. Finally, Citadel Advisors LLC bought a new position in Enveric Biosciences during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 8.75% of the company’s stock.

Enveric Biosciences Company Profile

(Get Free Report)

Enveric Biosciences, Inc develops cannabinoid medicines and combination therapies. It is a patient-centric biotechnology company endeavouring to enhance the lives of those who are adversely affected by the side effects of Cancer Treatments. The firm is testing natural compounds, starting with cannabinoids to provide patients and clinicians with novel prescription medicines to serve these unmet medical needs.

Further Reading

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