Edesa Biotech (EDSA) to Announce Quarterly Earnings on Monday

Edesa Biotech (NASDAQ:EDSA) is expected to be issuing its results after the market closes on Monday, August 10th. Analysts expect Edesa Biotech to post earnings of ($0.4350) per share for the quarter.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). On average, analysts expect Edesa Biotech to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Edesa Biotech Stock Up 4.4%

Shares of EDSA stock opened at $5.27 on Friday. The firm has a 50 day moving average of $6.41 and a 200-day moving average of $6.23. The company has a market cap of $50.77 million, a price-to-earnings ratio of -3.93 and a beta of 1.08. Edesa Biotech has a 52 week low of $0.72 and a 52 week high of $20.32.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EDSA. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. Brookline Capital Markets raised shares of Edesa Biotech to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Wall Street Zen downgraded Edesa Biotech from a “sell” rating to a “strong sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

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.