Ensysce Biosciences initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Ensysce Biosciences with a Buy rating and $9 price target. Ensysce is a clinical-stage specialty pharma developing novel opioid prodrugs for severe pain relief, the analyst tells investors in a research note. The firm says the chemical reactivity and metabolism profiles of the company’s technologies offer a “unique way to address prescription drug abuse and minimize drug overdose at the molecular level – something the pain management community has never seen before.”