Edesa Biotech (EDSA) Expected to Announce Earnings on Friday

Edesa Biotech (NASDAQ:EDSA) is projected to post its quarterly earnings results before the market opens on Friday, May 9th. Analysts expect Edesa Biotech to post earnings of ($0.30) per share for the quarter.

Edesa Biotech (NASDAQ:EDSA) last released its quarterly earnings results on Friday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.17). During the same period last year, the firm posted ($0.54) EPS. On average, analysts expect Edesa Biotech to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Edesa Biotech Trading Down 1.7 %

Shares of EDSA opened at $2.28 on Thursday. The stock has a 50 day moving average of $2.35 and a 200 day moving average of $2.26. Edesa Biotech has a 12 month low of $1.55 and a 12 month high of $5.59. The company has a market capitalization of $16.01 million, a price-to-earnings ratio of -1.22 and a beta of 0.55.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Edesa Biotech in a research note on Thursday, March 13th.

Edesa Biotech Company Profile

Edesa Biotech, Inc, a clinical-stage biopharmaceutical company, engages in the research and development, manufacture, and commercialization of pharmaceutical products for inflammatory and immune-related diseases. Its lead product candidates are EB05, a monoclonal antibody, which is in Phase 3 clinical study for the treatment of acute respiratory distress syndrome in Covid-19 patients; and EB01, a topical vanishing cream containing non-steroidal anti-inflammatory compound that has completed Phase 2b clinical study to treat chronic allergic contact dermatitis.