Streetbeat News

ENVB

Enveric Biosciences, Inc.

https://www.enveric.com

Industry

Biotechnology

Enveric Biosciences, Inc., a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. Its products pipeline includes EV104 for the treatment of osteoarthritis; EVM-101 and EVM-201 for the treatment of cancer related distress; EVM-301 for the treatment of mental health indication; EV102, a cannabinoid cream for topical skin application; and EV101, a cannabinoid and chemotherapy combination therapy. Enveric Biosciences, Inc. is headquartered in Naples, Florida.

Open

0.48

Mkt cap

4.2M

Volume

501K

High

0.53

P/E Ratio

-0.14

52-wk high

2.92

Low

0.46

Div yield

N/A

52-wk low

0.36

Enveric Biosciences Canada, a subsidiary of Enveric Biosciences (ENVB), has been awarded U.S. Patent #11918594 for multi-substituent psilocybin derivatives and their usage methods. This patent represents a significant advancement in the development of psychedelic-based therapeutics, potentially positioning ENVB at the forefront of this emerging field.

Portfolio Pulse from Charles Gross

March 05, 2024 | 7:58 pm

Clinical trials show psilocybin-assisted therapy's potential for treating Generalized Anxiety Disorder. Incannex Healthcare (NASDAQ:IXHL) conducted the Phase 2 study. Enveric Biosciences (NASDAQ:ENVB) announced non-binding deals to license drug compounds for mental health treatments. Compass Pathways (NASDAQ:CMPS), GH Research (NASDAQ:GHRS), MindMed (NASDAQ:MNMD), and other companies reported financial results and business updates. AdvisorShares Psychedelics ETF (NYSE:PSIL) and several US-listed companies showed varied stock performance.

Portfolio Pulse from Lara Goldstein

March 04, 2024 | 6:48 pm

U.S. stocks showed mixed performance with the S&P 500 rising by 0.3%. Hayward Holdings (HAYW) shares surged over 17% following better-than-expected Q4 results. Societal CDMO (SCTL) and Enveric Biosciences (ENVB) also saw significant gains, while LivePerson (LPSN), Endava (DAVA), and Kineta (KA) experienced sharp declines. The market saw varied sector performance, with real estate leading and health care lagging.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 7:31 pm

Butterfly Network, Inc. (BFLY) shares fell by 22% after reporting a larger-than-expected GAAP loss for Q4, despite beating sales estimates. Other stocks experienced significant movements, with Enveric Biosciences, Inc. (ENVB) and Societal CDMO, Inc. (SCTL) among the top gainers, while J-Long Group Limited (JL) and Golden Minerals Company (AUMN) led the losers.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 7:00 pm

In Thursday's intraday session, several healthcare stocks experienced significant movements. Societal CDMO and Enveric Biosciences saw substantial gains, while Kineta and Ironwood Pharmaceuticals faced notable declines. Revance Therapeutics and Castle Biosciences reported their Q4 earnings, influencing their stock performance.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 5:32 pm

U.S. stocks traded mixed with the Nasdaq Composite up by 100 points. Best Buy reported better-than-expected Q4 earnings, beating estimates with an EPS of $2.72 and sales of $14.646 billion. The company also increased its quarterly dividend by 2% and provided FY25 guidance. Societal CDMO, Enveric Biosciences, and Vertex saw significant stock price increases, while LivePerson, Endava, and Kineta experienced notable declines. Oil and gold prices rose, and economic indicators showed mixed results globally.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 5:24 pm

Enveric Biosciences' stock price increased following the announcement of signing three non-binding term sheets for the out-licensing of three classes of compounds.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 5:12 pm

Enveric Biosciences, Inc. (NASDAQ:ENVB) shares surged after announcing three non-binding term sheets with an undisclosed biotech company for out-licensing compounds, potentially earning up to $200 million plus royalties. The deals are contingent on IND approvals and successful Phase I-III testing. CEO Joseph Tucker highlighted the potential revenue and value creation from Enveric's discovery platforms. Additionally, ENVB has an average 1-year price target of $10, indicating a significant upside.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 4:16 pm

U.S. stocks showed mixed performance with the Nasdaq gaining 100 points following the release of PCE data indicating a slight ease in inflation from 2.6% to 2.4%. Societal CDMO, Enveric Biosciences, and Volcon saw significant stock increases due to acquisition and licensing news, while LivePerson, The Chemours Company, and Ironwood Pharmaceuticals experienced sharp declines due to disappointing financial results and trial outcomes.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 3:40 pm

Snowflake (SNOW) shares dropped 24% after Q4 results, guidance, and CEO transition news, with a Morgan Stanley downgrade. Okta (OKTA) surged 29% on strong Q4 results and future guidance. Enveric Biosciences (ENVB) soared 180% after announcing plans to out-license three compound classes.

Portfolio Pulse from ryanfaloona@benzinga.com

February 29, 2024 | 1:35 pm

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