Anebulo Pharmaceuticals (NASDAQ:ANEB) Stock Price Down 9.8% – Time to Sell?

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB)’s share price fell 9.8% during mid-day trading on Thursday . The stock traded as low as $0.93 and last traded at $1.11. 130,346 shares changed hands during mid-day trading, an increase of 1,663% from the average session volume of 7,393 shares. The stock had previously closed at $1.23.

Analysts Set New Price Targets

Separately, Benchmark reaffirmed a “speculative buy” rating and set a $8.00 price objective on shares of Anebulo Pharmaceuticals in a report on Tuesday, November 19th.

Anebulo Pharmaceuticals Stock Down 10.8 %

The company has a market capitalization of $25.67 million, a price-to-earnings ratio of -3.30 and a beta of -1.09. The business has a fifty day simple moving average of $1.60 and a two-hundred day simple moving average of $1.95.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last announced its quarterly earnings results on Wednesday, September 25th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. As a group, equities analysts predict that Anebulo Pharmaceuticals, Inc. will post -0.52 earnings per share for the current fiscal year.

About Anebulo Pharmaceuticals

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.