Edesa Biotech (NASDAQ:EDSA) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Edesa Biotech (NASDAQ:EDSA) in a research report report published on Thursday,Benzinga reports. They currently have a $21.00 price target on the stock.

Edesa Biotech Price Performance

NASDAQ EDSA opened at $2.39 on Thursday. The company has a market cap of $16.71 million, a P/E ratio of -1.28 and a beta of 0.77. The stock has a 50-day moving average of $2.09 and a two-hundred day moving average of $2.78. Edesa Biotech has a 1-year low of $1.55 and a 1-year high of $5.59.

Edesa Biotech (NASDAQ:EDSA) last released its 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 quarter in the prior year, the business earned ($0.54) earnings per share. On average, analysts anticipate that Edesa Biotech will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Edesa Biotech

An institutional investor recently bought a new position in Edesa Biotech stock. Two Sigma Securities LLC purchased a new stake in Edesa Biotech, Inc. (NASDAQ:EDSA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,313 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned about 0.44% of Edesa Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 5.50% of the company’s stock.

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.