Zacks: Brokerages Anticipate Edesa Biotech, Inc. (NASDAQ:EDSA) Will Post Earnings of -$0.40 Per Share

Equities analysts forecast that Edesa Biotech, Inc. (NASDAQ:EDSA) will announce earnings per share of ($0.40) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Edesa Biotech’s earnings. Edesa Biotech posted earnings of ($0.26) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 53.8%. The business is expected to announce its next quarterly earnings report on Tuesday, February 15th.

On average, analysts expect that Edesa Biotech will report full year earnings of ($1.65) per share for the current fiscal year, with EPS estimates ranging from ($2.00) to ($1.31). For the next fiscal year, analysts forecast that the firm will post earnings of $0.94 per share, with EPS estimates ranging from ($1.42) to $5.17. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Edesa Biotech.

Edesa Biotech (NASDAQ:EDSA) last issued its earnings results on Tuesday, December 28th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.10.

Separately, HC Wainwright assumed coverage on shares of Edesa Biotech in a research report on Monday, December 20th. They issued a “buy” rating and a $16.00 price target for the company.

A number of institutional investors and hedge funds have recently made changes to their positions in EDSA. UBS Group AG lifted its position in Edesa Biotech by 42.1% in the third quarter. UBS Group AG now owns 5,369 shares of the company’s stock valued at $39,000 after acquiring an additional 1,590 shares during the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of Edesa Biotech in the second quarter valued at about $70,000. Verition Fund Management LLC purchased a new stake in shares of Edesa Biotech in the third quarter valued at about $100,000. Virtu Financial LLC raised its holdings in shares of Edesa Biotech by 17.4% in the second quarter. Virtu Financial LLC now owns 18,938 shares of the company’s stock valued at $100,000 after buying an additional 2,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Edesa Biotech in the third quarter valued at about $115,000. 2.91% of the stock is owned by hedge funds and other institutional investors.

Shares of EDSA opened at $5.26 on Wednesday. Edesa Biotech has a 1-year low of $4.15 and a 1-year high of $12.00. The stock has a market cap of $71.11 million, a PE ratio of -4.87 and a beta of 0.56. The firm has a fifty day moving average price of $6.02 and a 200 day moving average price of $6.10.

About Edesa Biotech

Edesa Biotech, Inc is a biopharmaceutical company, which focuses on acquiring, developing and commercializing clinical stage drugs for inflammatory and immune-related diseases with clear unmet medical needs. The company product candidate, EB01 is a non-steroidal, anti-inflammatory treatment for chronic allergic contact dermatitis (ACD), a common, potentially debilitating condition and occupational illness.

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