Enveric Biosciences (NASDAQ:ENVB) Trading Up 4.2% – Still a Buy?

Shares of Enveric Biosciences, Inc. (NASDAQ:ENVB) shot up 4.2% during mid-day trading on Monday . The stock traded as high as $1.5378 and last traded at $1.48. Approximately 104,186 shares traded hands during trading, an increase of 2% from the average session volume of 101,824 shares. The stock had previously closed at $1.42.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Enveric Biosciences in a report on Friday, July 17th. Wall Street Zen raised Enveric Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Enveric Biosciences Stock Performance

The stock’s 50 day moving average is $1.42 and its 200 day moving average is $1.93. The company has a market capitalization of $6.63 million, a PE ratio of -0.12 and a beta of 1.11.

Enveric Biosciences (NASDAQ:ENVB) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.76) earnings per share for the quarter.

Enveric Biosciences Company Profile

Enveric Biosciences is a clinical-stage biopharmaceutical company focused on the discovery and development of novel psychedelic-based therapeutics for the treatment of psychiatric and neurological disorders. The company’s research platform leverages proprietary medicinal chemistry to design, synthesize and optimize molecules derived from established psychoactive compounds, with a goal of improving safety, efficacy and tolerability compared with traditional formulations.

Enveric’s preclinical pipeline features synthetic analogs of ibogaine, psilocybin and MDMA, each engineered to enhance therapeutic outcomes in conditions such as post-traumatic stress disorder, major depressive disorder and anxiety.