Enveric BiosciencesNASDAQ: ENVB

Enveric Biosciences (NASDAQ: ENVB ) stock is heading higher on Tuesday alongside heavy pre-market trading of the biotechnology company's shares. This comes with more than 13 million shares of ENVB stock changing hands as of this writing.

NEW YORK, June 28, 2024 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has released Update Note on Enveric Biosciences Inc. (NASDAQ: ENVB). The update note includes information on the Enveric Bioscience's management commentary, recent developments, outlook, and risks.

Enveric Biosciences, Inc. (ENVB) closed at $0.93 on the most recent trading day, showing a decrease of 0.46% from its previous closing price.

Enveric Biosciences, Inc. (ENVB) ended the latest trading day at $0.90, down 0.56% from the day before.

Enveric Biosciences (ENVB) could see an increase in its stock price due to increasing optimism about its earnings potential, as indicated by its upgrade to a Zacks Rank #1 (Strong Buy).

On April 12, 2024, ZUO, INTZ, SIGA, ENVB, and NTRS were included in the Zacks Rank #1 (Strong Buy) List.

Biotech investors know that small companies can make massive moves on big headlines, and we're seeing such a move in Enveric Biosciences (NASDAQ: ENVB ) today. Shares of ENVB stock are up more than 120% in early afternoon trading today after the company put forward a press release highlighting plans to license three classes of its compounds.

Enveric Biosciences, Inc. (ENVB) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.