# Ensysce Biosciences, Inc. (ENSC)

> Source: Nexqual · https://nexqual.com/ENSC · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Ensysce Biosciences, Inc. (ENSC), nexqual.com/ENSC" · informational, not investment advice.

**Price:** USD 0.47 (-7.93% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 0.51 · day 0.47–0.52 · 52w 0.23–2.26 · market cap $9.2M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.5M, net income -$12.6M (-280.5% margin) (SEC filings).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $444K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 5.13 (range 2–8.25).
- Total return with dividends: 1Y -78.9% vs S&P 500 +13.4%; 5Y -100.0% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.5M | $2.5M | $2.2M | $5.2M | $5.1M | $4.5M |
| Operating income | -$19.9M | -$24.2M | -$10.7M | -$6.7M | -$10.2M | -$12.7M |
| Net income | -$29.1M | -$24.2M | -$10.6M | -$8.0M | -$10.2M | -$12.6M |
| EPS (diluted) | -$5328.00 | -$2091.30 | -$70.40 | -$11.45 | -$3.98 | — |
| Free cash flow | — | — | — | — | -$7.9M | — |
| Operating margin | -562.7% | -959.9% | -480.5% | -129.2% | -202.1% | -281.3% |
| Net margin | -825.4% | -959.3% | -476.4% | -153.3% | -200.8% | -280.5% |
| Revenue growth | -10.2% | -28.5% | -11.6% | +133.6% | -2.8% | — |
| Cash + short-term investments | $12.3M | $3.1M | $1.1M | $3.5M | $4.3M | — |
| Total debt | $4.4M | $140K | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.0x · Earnings yield -137.90%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $444K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-04-23…2026-08-07 | Gower Bob G | Director | 908,614 | $444K | 0.49 | Too little history (no open-market trades in 2024 or 2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 5.13 (low 2, high 8.25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Cantor Fitzgerald | Initiated | Overweight | $2 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -78.9% | -100.0% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -79.0% | -85.7% |
| Volatility (annualized) | 126.6% | 139.8% |
| Max drawdown | -88.7% (Oct 2025→Jun 2026) | -100.0% (Dec 2021→Jun 2026) |

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 303.53 -1.39% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 89.27 -1.79% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.09 -0.35% · PRAX (Praxis Precision Medicines, Inc) USD 252.96 -2.30% · IONS (Ionis Pharmaceuticals, Inc.) USD 42.93 -2.23% · AXSM (Axsome Therapeutics, Inc.) USD 145.04 -7.07%

## More
Full page: https://nexqual.com/ENSC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ENSC's own 10-K filed 2026-03-30 (https://www.sec.gov/Archives/edgar/data/1716947/000149315226013633/form10-k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Purisys | "We have entered into an agreement with Purisys LLC ("Purisys")" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.12 | $0.09 | -233.3% | $1.2M | 2 |
| Next quarter (ends 2026-12-31) | $-0.10 | $-0.60 | -84.2% | $1.2M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.60 | $-1.53 | -60.8% | $4.5M | 2 |
| Next fiscal year (ends 2027-12-31) | $-0.05 | $0.00 | — | $3.0M | 1 |