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

Edesa Biotech (NASDAQ:EDSA) released its earnings results on Friday. The company reported ($0.28) 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 Trading Up 2.5%

Shares of NASDAQ:EDSA opened at $1.02 on Friday. The stock has a 50 day moving average of $1.40 and a 200 day moving average of $1.94. Edesa Biotech has a 12-month low of $0.94 and a 12-month high of $2.96. The company has a market cap of $8.50 million, a PE ratio of -0.76 and a beta of 0.21.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EDSA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Edesa Biotech in a report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Edesa Biotech in a research note on Monday, November 3rd. 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, the stock currently has a consensus rating of “Hold” and an average target price of $5.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. DRW Securities LLC purchased a new stake in Edesa Biotech during the fourth quarter valued at approximately $191,000. State Street Corp acquired a new stake in shares of Edesa Biotech in the 4th quarter worth $27,000. Finally, Susquehanna International Group LLP purchased a new position in Edesa Biotech during the 3rd quarter worth $36,000. Hedge funds and other 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.