Edesa Biotech (NASDAQ:EDSA) Announces Quarterly Earnings Results

Edesa Biotech (NASDAQ:EDSA) issued its quarterly earnings data on Thursday. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.16), FiscalAI reports.

Edesa Biotech Price Performance

Shares of NASDAQ EDSA traded up $0.10 during mid-day trading on Friday, reaching $5.54. 41,882 shares of the company’s stock were exchanged, compared to its average volume of 1,940,757. The firm has a 50-day moving average price of $6.29 and a two-hundred day moving average price of $6.38. The firm has a market capitalization of $53.30 million, a price-to-earnings ratio of -4.13 and a beta of 1.08. Edesa Biotech has a 52 week low of $0.72 and a 52 week high of $20.32.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EDSA shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. Wall Street Zen downgraded Edesa Biotech from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Brookline Capital Markets upgraded shares of Edesa Biotech to a “strong-buy” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Diadema Partners LP purchased a new stake in shares of Edesa Biotech in the fourth quarter worth about $77,000. State Street Corp purchased a new stake in Edesa Biotech in the fourth quarter valued at approximately $27,000. DRW Securities LLC bought a new stake in Edesa Biotech during the fourth quarter valued at approximately $191,000. Finally, Susquehanna International Group LLP purchased a new position in Edesa Biotech in the 3rd quarter worth approximately $36,000. 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.