Edesa Biotech (EDSA) to Release Earnings on Friday

Edesa Biotech (NASDAQ:EDSA) is anticipated to issue its results before the market opens on Friday, December 12th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter.

Edesa Biotech Price Performance

Shares of NASDAQ EDSA opened at $1.69 on Friday. Edesa Biotech has a one year low of $1.55 and a one year high of $4.49. The business’s 50-day moving average price is $2.13 and its two-hundred day moving average price is $2.18. The company has a market capitalization of $11.90 million, a P/E ratio of -1.28 and a beta of 0.08.

Institutional Trading of Edesa Biotech

An institutional investor recently bought a new position in Edesa Biotech stock. Susquehanna International Group LLP bought a new position in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned approximately 0.21% of Edesa Biotech as of its most recent SEC filing. Institutional investors and hedge funds own 5.50% of the company’s stock.

Analysts Set New Price Targets

EDSA has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Edesa Biotech in a research note on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edesa Biotech in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

About Edesa Biotech

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.