Why Ensysce Biosciences Stock Surged Today
Portfolio Pulse from Ryan Gustafson
Ensysce Biosciences, Inc. (NASDAQ:ENSC) stock surged following positive coverage from HC Wainwright. The firm initiated coverage with a Buy rating and a $9 price target, far above current levels. The analyst cited the company's innovative platforms, including Trypsin-Activated Abuse Protection and Multi-Pill Abuse Resistant, which are intended to safeguard against opioid abuse. The total firm value was estimated at $70 million, with a price objective of $9 per share. Shares of ENSC closed Monday up 31.1% at $2.36.
July 03, 2023 | 8:28 pm
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POSITIVE IMPACT
Ensysce Biosciences received a Buy rating and a $9 price target from HC Wainwright, causing the stock to surge. The firm's innovative platforms were highlighted as a value proposition.
The positive coverage from HC Wainwright, including a Buy rating and a price target significantly above current levels, is a strong positive signal for investors. This has led to a surge in the stock price. The firm's innovative platforms were also highlighted, which could attract further investor interest.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100