Ensysce Biosciences Q1 2024 GAAP EPS $(0.55) Beats $(0.90) Estimate, Sales $305.722K Miss $400.000K Estimate
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences (ENSC) reported Q1 2024 GAAP EPS of $(0.55), beating the $(0.90) estimate, but missed sales estimates with $305.722K against the expected $400.000K. This represents a 61.28% decrease in sales compared to the same period last year.
May 13, 2024 | 12:27 pm
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NEUTRAL IMPACT
Ensysce Biosciences reported a mixed Q1 2024 performance with better-than-expected EPS but disappointing sales figures, showing a significant year-over-year decline.
The positive EPS surprise could provide some upward momentum for ENSC's stock, as beating earnings estimates often does. However, the significant miss on sales and the sharp year-over-year decline could temper investor enthusiasm, leading to a neutral short-term impact. The mixed results present a complex picture, where the positive EPS might not fully offset concerns about declining sales.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100