Edesa Biotech (NASDAQ:EDSA) Rating Increased to Strong-Buy at Brookline Capital Markets

Edesa Biotech (NASDAQ:EDSA) was upgraded by Brookline Capital Markets to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports. Brookline Capital Markets also issued estimates for Edesa Biotech’s FY2029 earnings at ($1.87) EPS and FY2030 earnings at ($0.83) EPS.

A number of other research firms have also recently commented on EDSA. Wall Street Zen raised Edesa Biotech from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.00.

Edesa Biotech Trading Up 6.0%

EDSA stock opened at $8.13 on Monday. The stock has a market cap of $72.28 million, a PE ratio of -6.07 and a beta of 1.03. Edesa Biotech has a 12 month low of $0.72 and a 12 month high of $20.32. The company has a 50-day moving average price of $9.49 and a 200 day moving average price of $5.34.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). Sell-side analysts forecast that Edesa Biotech will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in Edesa Biotech during the 3rd quarter valued at about $36,000. DRW Securities LLC purchased a new position in shares of Edesa Biotech during the fourth quarter worth approximately $191,000. State Street Corp purchased a new position in shares of Edesa Biotech during the fourth quarter worth approximately $27,000. Diadema Partners LP bought a new stake in shares of Edesa Biotech during the fourth quarter valued at approximately $77,000. Finally, Perceptive Advisors LLC bought a new stake in shares of Edesa Biotech during the first quarter valued at approximately $2,946,000. Hedge funds and other institutional investors own 5.50% of the company’s stock.

About Edesa Biotech

Edesa Biotech, Inc is a clinical-stage biotechnology company focused on the discovery and development of next-generation vaccines and immunotherapies. The company leverages a proprietary self-amplifying RNA platform to create candidates designed for both intranasal and injectable administration. Edesa’s approach aims to elicit robust mucosal and systemic immune responses, with applications spanning infectious diseases and immuno-oncology.

Among Edesa’s pipeline programs is a lead intranasal vaccine candidate targeting SARS-CoV-2, currently advancing through early-stage clinical trials.