Edesa Biotech’s (EDSA) “Buy” Rating Reiterated at HC Wainwright

Edesa Biotech (NASDAQ:EDSA)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $21.00 target price on the stock.

Edesa Biotech Price Performance

Shares of Edesa Biotech stock opened at $2.39 on Thursday. Edesa Biotech has a 1-year low of $1.55 and a 1-year high of $5.59. The company has a market capitalization of $16.69 million, a PE ratio of -1.28 and a beta of 0.77. The business has a 50-day moving average of $2.07 and a 200-day moving average of $2.81.

Edesa Biotech (NASDAQ:EDSA) last issued its quarterly earnings data on Friday, February 14th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.17). During the same quarter in the previous year, the business posted ($0.54) earnings per share. On average, equities analysts expect that Edesa Biotech will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Edesa Biotech stock. Two Sigma Securities LLC bought a new stake in Edesa Biotech, Inc. (NASDAQ:EDSA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,313 shares of the company’s stock, valued at approximately $26,000. Two Sigma Securities LLC owned approximately 0.44% of Edesa Biotech as of its most recent filing with the SEC. 5.50% of the stock is owned by institutional investors.

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.