Enveric Biosciences (NASDAQ:ENVB – Get Free Report)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 419.48% from the stock’s previous close.
Enveric Biosciences Stock Performance
Shares of NASDAQ:ENVB traded down $0.18 during trading hours on Thursday, hitting $1.93. 372,730 shares of the company’s stock traded hands, compared to its average volume of 3,997,478. The company’s fifty day simple moving average is $3.63 and its two-hundred day simple moving average is $5.55. The company has a market cap of $1.31 million, a price-to-earnings ratio of -0.05 and a beta of 0.47. Enveric Biosciences has a 52 week low of $1.13 and a 52 week high of $28.05.
Institutional Investors Weigh In On Enveric Biosciences
An institutional investor recently raised its position in Enveric Biosciences stock. AdvisorShares Investments LLC boosted its holdings in shares of Enveric Biosciences, Inc. (NASDAQ:ENVB – Free Report) by 63.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 599,854 shares of the company’s stock after acquiring an additional 232,807 shares during the quarter. AdvisorShares Investments LLC owned approximately 88.21% of Enveric Biosciences worth $215,000 at the end of the most recent reporting period. 13.82% of the stock is currently owned by institutional investors.
About Enveric Biosciences
Enveric Biosciences, Inc, a biotechnology company, engages in the development of small-molecule therapeutics for the treatment of anxiety, depression, and addiction disorders. Its lead product candidates are EB-002, an active metabolite of psilocybin, which is in preclinical development stage for the treatment of anxiety disorders; and EB-003 that is in preclinical development stage for the treatment mental health.
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