Edesa Biotech (NASDAQ:EDSA) Stock Rating Lowered by Wall Street Zen

Edesa Biotech (NASDAQ:EDSA) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Several other analysts also recently issued reports on EDSA. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. Brookline Capital Markets upgraded 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 company’s stock. According to data from MarketBeat, Edesa Biotech presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Edesa Biotech Price Performance

Shares of EDSA stock opened at $5.27 on Friday. Edesa Biotech has a 12-month low of $0.72 and a 12-month high of $20.32. The company has a market capitalization of $50.75 million, a PE ratio of -3.93 and a beta of 1.09. The firm has a 50 day moving average price of $6.41 and a two-hundred day moving average price of $6.27.

Edesa Biotech (NASDAQ:EDSA) last posted its earnings results on Thursday, May 14th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.25). As a group, research analysts expect that Edesa Biotech will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State Street Corp acquired a new stake in shares of Edesa Biotech in the fourth quarter valued at approximately $27,000. Susquehanna International Group LLP acquired a new stake in Edesa Biotech during the third quarter worth approximately $36,000. Diadema Partners LP acquired a new stake in Edesa Biotech during the fourth quarter worth approximately $77,000. DRW Securities LLC bought a new position in Edesa Biotech during the 4th quarter worth $191,000. Finally, Perceptive Advisors LLC bought a new position in Edesa Biotech during the 1st quarter worth $2,946,000. 5.50% of the stock is owned by institutional investors.

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.