Will ensc stock hit $3

**Ensysce Biosciences (ENSC) stock is not likely to reach $3 in the short term.** Here's the analysis to support this conclusion: 1. **Current Stock Price and Recent Performance**: The closing price of ENSC on October 22, 2024, was $0.54. Over the past week, the stock experienced a significant surge, with a 220.07% increase from the previous week's closing price. However, this recent surge does not put the stock close to the $3 mark. 2. **Moving Averages**: The stock's 5-day moving average is $0.26, the 10-day is $0.22, and the 20-day is $0.23. The 30-day moving average is $0.26, the 50-day is $0.32, and the 60-day is $0.34. The moving averages are below the current closing price, indicating a short-term upward trend but not suggesting a rapid ascent to $3. 3. **Short-Term Forecast**: The forecast price for ENSC over the next ten trading days is relatively low, with prices predicted to range from $0.19 to $0.21. This forecast does not approach the $3 level. 4. **Market Conditions and Recent News**: Despite recent positive developments such as FDA clearance for a device and significant funding, the broader market conditions and the company's performance indicate challenges. The company's stock has reached a 52-week low, reflecting a broader trend of performance decline. 5. **Institutional Actions**: There is no recent information suggesting a potential institutional investment or support that would propel the stock to $3. In conclusion, while the stock has shown some positive momentum, the current price, moving averages, short-term forecast, and market conditions do not support a projection that ENSC will reach $3 in the near future.