Edesa Biotech (NASDAQ:EDSA) Stock Rating Upgraded by Brookline Capital Markets

Edesa Biotech (NASDAQ:EDSA) was upgraded by investment analysts at 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.

Several other analysts also recently issued reports on EDSA. Wall Street Zen upgraded Edesa Biotech from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Edesa Biotech has an average rating of “Moderate Buy” and an average target price of $5.00.

Edesa Biotech Stock Performance

Shares of EDSA opened at $8.13 on Monday. The stock has a 50 day simple moving average of $9.49 and a 200 day simple moving average of $5.34. Edesa Biotech has a 52-week low of $0.72 and a 52-week high of $20.32. The firm has a market capitalization of $72.28 million, a PE ratio of -6.07 and a beta of 1.03.

Edesa Biotech (NASDAQ:EDSA) last announced its quarterly earnings results 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). Equities research analysts predict that Edesa Biotech will post -1.57 EPS for the current fiscal year.

Institutional Trading of Edesa Biotech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC bought a new position in Edesa Biotech in the first quarter valued at approximately $2,946,000. DRW Securities LLC acquired a new stake in shares of Edesa Biotech in the 4th quarter valued at approximately $191,000. Diadema Partners LP bought a new position in shares of Edesa Biotech in the fourth quarter valued at $77,000. State Street Corp bought a new position in shares of Edesa Biotech in the fourth quarter valued at $27,000. Finally, Susquehanna International Group LLP acquired a new position in Edesa Biotech during the third quarter worth approximately $36,000. Institutional investors own 5.50% of the company’s stock.

Edesa Biotech Company Profile

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.