Edesa Biotech (EDSA) to Announce Earnings on Monday

Edesa Biotech (NASDAQ:EDSA) is expected to post its results after the market closes on Monday, August 10th. Analysts expect Edesa Biotech to announce earnings of ($0.4350) per share for the quarter.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.25). On average, analysts expect Edesa Biotech to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Edesa Biotech Price Performance

Shares of Edesa Biotech stock opened at $5.27 on Friday. The business has a 50-day moving average of $6.41 and a 200-day moving average of $6.23. The company has a market capitalization of $50.77 million, a PE ratio of -3.93 and a beta of 1.08. Edesa Biotech has a 1-year low of $0.72 and a 1-year high of $20.32.

Analyst Ratings Changes

Several research analysts recently commented on EDSA shares. Brookline Capital Markets upgraded Edesa Biotech to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded Edesa Biotech from a “sell” rating to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of Edesa Biotech in the 3rd quarter worth about $36,000. State Street Corp acquired a new stake in shares of Edesa Biotech in the 4th quarter valued at about $27,000. Diadema Partners LP bought a new position in shares of Edesa Biotech during the fourth quarter worth about $77,000. Finally, DRW Securities LLC bought a new position in shares of Edesa Biotech during the fourth quarter worth about $191,000. 5.50% of the stock is owned by institutional investors and hedge funds.

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.