Aegis Capital Starts Enveric Biosciences (ENVB) at Buy

Aegis Capital analyst Nathan Weinstein initiates coverage on Enveric Biosciences (NASDAQ: ENVB) with a Buy rating and a price target of $7.00.

The analyst commented, "Enveric Biosciences is a biotechnology company that is focused on cannabinoid-based therapeutics. In May 2021, Enveric announced that it would be acquiring MagicMed Industries. MagicMed is currently developing the Psybrary, a unique, proprietary catalogue of next generation psychedelic molecules, designed to have improved clinical profiles compared to classic psychedelics. Currently, Enveric has multiple cannabinoid-based programs in its existing pipeline, focused on indications with significant unmet need, including glioblastoma multiforme (GBM) and radiation dermatitis. We expect the combined company will have a diversified pipeline of cannabinoid and psychedelic-based programs."

For an analyst ratings summary and ratings history on Enveric Biosciences click here. For more ratings news on Enveric Biosciences click here.

Shares of Enveric Biosciences closed at $2.08 yesterday.

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