Edesa Biotech (NASDAQ:EDSA) Releases Quarterly Earnings Results, Hits Estimates

Edesa Biotech (NASDAQ:EDSA) posted its quarterly earnings results on Friday. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28), FiscalAI reports. The company had revenue of $0.10 million during the quarter.

Edesa Biotech Stock Performance

Shares of NASDAQ EDSA traded up $0.03 during trading on Friday, reaching $1.02. The stock had a trading volume of 64,290 shares, compared to its average volume of 84,388. The company has a market cap of $8.50 million, a P/E ratio of -0.76 and a beta of 0.21. The business’s 50-day moving average price is $1.42 and its 200-day moving average price is $1.95. Edesa Biotech has a fifty-two week low of $0.94 and a fifty-two week high of $2.96.

Analysts Set New Price Targets

EDSA has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Edesa Biotech in a research report on Monday, November 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Edesa Biotech currently has an average rating of “Hold” and an average price target of $5.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in Edesa Biotech during the 3rd quarter valued at approximately $36,000. State Street Corp purchased a new stake in shares of Edesa Biotech during the fourth quarter worth approximately $27,000. Finally, DRW Securities LLC acquired a new stake in shares of Edesa Biotech during the fourth quarter worth $191,000. 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.