Anebulo Pharmaceuticals (NASDAQ:ANEB) Posts Quarterly Earnings Results, Meets Estimates

Key Points

• Anebulo Pharmaceuticals reported quarterly earnings of ($0.05) per share, which met analysts' expectations.
• The company's stock price traded up to $2.42 with a market cap of approximately $99.41 million and a PE ratio of -9.31.
• Goldman Sachs Group recently acquired a new stake in Anebulo Pharmaceuticals, buying 47,954 shares valued at about $62,000, representing 0.12% ownership.

Anebulo Pharmaceuticals (NASDAQ:ANEB - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05), Zacks reports.

Anebulo Pharmaceuticals Price Performance

Anebulo Pharmaceuticals stock traded up $0.02 during trading hours on Monday, reaching $2.42. The stock had a trading volume of 11,569 shares, compared to its average volume of 160,758. The company has a fifty day simple moving average of $2.53 and a 200-day simple moving average of $1.72. The stock has a market cap of $99.41 million, a PE ratio of -9.31 and a beta of -0.89. Anebulo Pharmaceuticals has a 52 week low of $0.80 and a 52 week high of $3.42.

Wall Street Analyst Weigh In

Separately, Maxim Group lowered shares of Anebulo Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Anebulo Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $5.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Anebulo Pharmaceuticals stock. Goldman Sachs Group Inc. bought a new stake in shares of Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,954 shares of the company's stock, valued at approximately $62,000. Goldman Sachs Group Inc. owned about 0.12% of Anebulo Pharmaceuticals at the end of the most recent quarter. Institutional investors and hedge funds own 28.40% of the company's stock.

Anebulo Pharmaceuticals Company Profile

Anebulo Pharmaceuticals, Inc, a clinical-stage biotechnology company, engages in developing solutions for people suffering from acute cannabinoid intoxication (ACI) and substance addiction. The company's lead product candidate is ANEB-001, a small molecule cannabinoid receptor antagonist, which is in a Phase II clinical trial to address the unmet medical need for a specific antidote for ACI.

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