Ensysce Biosciences Inc [ENSC] is 52.83% higher this YTD. Is it still time to buy?

Ensysce Biosciences Inc [NASDAQ: ENSC] price surged by 12.50 percent to reach at $0.18. The company report on January 31, 2024 at 8:00 AM that Ensysce Biosciences Announces Positive End of Phase 2 Meeting with FDA for PF614 to Treat Severe Pain.

~ PF614 Phase 3 Program Expected to Begin Enrollment in Mid-2024 ~.

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Ensysce Biosciences, Inc. (“Ensysce” or the “Company”) (NASDAQ:ENSC), a clinical-stage company applying transformative chemistry to improve prescription drug safety, today announced the completion of a constructive End of Phase 2 meeting with the Food and Drug Administration (FDA) regarding its lead ‘Next Generation’ analgesic, PF614. The meeting facilitated an affirmation of the Company’s non-clinical program and enabled an exchange of constructive ideas regarding Ensysce’s Phase 3 clinical trial designs for PF614.

The one-year ENSC stock forecast points to a potential upside of 86.78. The average equity rating for ENSC stock is currently 1.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Ensysce Biosciences Inc [ENSC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENSC shares is $12.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENSC stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Ensysce Biosciences Inc is set at 0.25, with the Price to Sales ratio for ENSC stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 1.22.

ENSC Stock Performance Analysis:

Ensysce Biosciences Inc [ENSC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.80. With this latest performance, ENSC shares gained by 52.83% in over the last four-week period, additionally sinking by -21.74% over the last 6 months – not to mention a drop of -80.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENSC stock in for the last two-week period is set at 63.96, with the RSI for the last a single of trading hit 65.46, and the three-weeks RSI is set at 62.02 for Ensysce Biosciences Inc [ENSC]. The present Moving Average for the last 50 days of trading for this stock 1.1247, while it was recorded at 1.5520 for the last single week of trading, and 1.8347 for the last 200 days.

Insight into Ensysce Biosciences Inc Fundamentals:

Ensysce Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.33 and a Current Ratio set at 2.33.

ENSC Stock EPS

With the latest financial reports released by the company, Ensysce Biosciences Inc posted -18.24/share EPS, while the average EPS was predicted by analysts to be reported at -28.88/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 36.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENSC.

Ensysce Biosciences Inc [ENSC] Institutonal Ownership Details

The top three institutional holders of ENSC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ENSC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ENSC stock with ownership which is approximately 5.8325%.