Enveric Biosciences (ENVB, Financial) has recently taken a significant step by submitting a provisional patent application for novel pharmaceutical formulations aimed at the treatment of neurodegenerative diseases. This development could notably broaden the market scope for Enveric's drug offerings. The patent includes wide-ranging claims on a set of molecules that boost brain-derived neurotrophic factor (BDNF) activity, which is crucial in conditions where the BDNF/TrKB pathway is impactful.
The BDNF and TrKB receptor are essential for brain health, offering neuroprotection, aiding adult neurogenesis, and enhancing myelination through increased production of oligodendrocyte progenitor cells. While further pre-clinical research is necessary to confirm the molecules' ability to enhance BDNF activation, initial findings have shown promise in promoting neuronal growth in laboratory tests.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for Enveric Biosciences Inc (ENVB, Financial) is $54.80 with a high estimate of $99.60 and a low estimate of $10.00. The average target implies an upside of 3,929.41% from the current price of $1.36. More detailed estimate data can be found on the Enveric Biosciences Inc (ENVB) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Enveric Biosciences Inc's (ENVB, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
