Edesa Biotech (EDSA) Expected to Announce Quarterly Earnings on Friday

Edesa Biotech (NASDAQ:EDSA) is expected to be announcing 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 Stock Up 2.9%

EDSA opened at $1.79 on Wednesday. Edesa Biotech has a 12 month low of $1.55 and a 12 month high of $4.49. The company has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $2.17. The stock has a market cap of $12.60 million, a P/E ratio of -1.36 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 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 filing with the Securities & Exchange Commission. 5.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Edesa Biotech in a report on Monday, November 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edesa Biotech in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.00.

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.