Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) Sees Large Drop in Short Interest

Anebulo Pharmaceuticals, Inc. (NASDAQ:ANEB) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 6,500 shares, a decline of 39.8% from the October 31st total of 10,800 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 8,900 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “speculative buy” rating and issued a $8.00 price target on shares of Anebulo Pharmaceuticals in a research note on Tuesday, November 19th.

Anebulo Pharmaceuticals Stock Up 0.7 %

Shares of ANEB traded up $0.01 during midday trading on Friday, reaching $1.44. 4,930 shares of the stock were exchanged, compared to its average volume of 6,747. The company has a market cap of $37.34 million, a price-to-earnings ratio of -4.80 and a beta of -1.00. Anebulo Pharmaceuticals has a 12-month low of $1.25 and a 12-month high of $3.30. The firm has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $2.03.

Anebulo Pharmaceuticals (NASDAQ:ANEB) last posted its earnings results on Wednesday, September 25th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. Research analysts expect that Anebulo Pharmaceuticals 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.