Edesa Biotech (NASDAQ:EDSA) Raised to Strong-Buy at Brookline Capital Markets

Edesa Biotech (NASDAQ:EDSA) was upgraded by research analysts at Brookline Capital Markets to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports. Brookline Capital Markets also issued estimates for Edesa Biotech’s FY2029 earnings at ($1.87) EPS and FY2030 earnings at ($0.83) EPS.

Several other analysts have also recently issued reports on EDSA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a report on Wednesday, June 24th. Wall Street Zen raised shares of Edesa Biotech from a “strong sell” rating to a “sell” rating in a report 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. According to data from MarketBeat.com, Edesa Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Edesa Biotech Stock Up 6.0%

Shares of Edesa Biotech stock opened at $8.13 on Monday. Edesa Biotech has a twelve month low of $0.72 and a twelve month high of $20.32. The business has a 50-day moving average price of $9.49 and a 200-day moving average price of $5.34. The firm has a market cap of $72.28 million, a price-to-earnings ratio of -6.07 and a beta of 1.03.

Edesa Biotech (NASDAQ:EDSA) last posted its earnings results on Thursday, May 14th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). On average, equities analysts expect that Edesa Biotech will post -1.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC purchased a new stake in Edesa Biotech during the first quarter valued at approximately $2,946,000. DRW Securities LLC purchased a new position in shares of Edesa Biotech in the 4th quarter worth approximately $191,000. Diadema Partners LP purchased a new position in shares of Edesa Biotech in the 4th quarter worth approximately $77,000. State Street Corp bought a new position in shares of Edesa Biotech during the 4th quarter valued at approximately $27,000. Finally, Susquehanna International Group LLP bought a new position in shares of Edesa Biotech during the 3rd quarter valued at approximately $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.