Edesa Biotech (EDSA) to Release Earnings on Tuesday

Key Points

• Edesa Biotech will report quarterly results before the market opens on May 12; analysts expect EPS of ($0.24) and the company is forecast to post about ($1.00) EPS for the current and next fiscal year after last quarter's ($0.28) EPS on $0.11M revenue.
• CEO Pardeep Nijhawan bought 10,000 shares at $3.90 on March 5, increasing his holdings to 402,702 shares, and insiders now own roughly 24.40% of the company.
• The stock recently fell 3.0% to $15.63, has a market cap of $138.9M and a 12‑month range of $0.72–$20.32; the consensus analyst rating is Hold with a $5.00 target.

Edesa Biotech (NASDAQ:EDSA - Get Free Report) will likely be announcing its results before the market opens on Tuesday, May 12th. Analysts expect the company to announce earnings of ($0.24) per share for the quarter.

Edesa Biotech (NASDAQ:EDSA - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.28). The firm had revenue of $0.11 million during the quarter. On average, analysts expect Edesa Biotech to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Edesa Biotech Stock Down 3.0%

Shares of NASDAQ:EDSA traded down $0.48 during trading on Tuesday, hitting $15.63. The stock had a trading volume of 194,801 shares, compared to its average volume of 3,386,635. Edesa Biotech has a 12-month low of $0.72 and a 12-month high of $20.32. The stock has a market capitalization of $138.90 million, a price-to-earnings ratio of -13.59 and a beta of 1.26. The stock has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $3.23.

Insider Activity at Edesa Biotech

In related news, CEO Pardeep Nijhawan bought 10,000 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was acquired at an average price of $3.90 per share, with a total value of $39,000.00. Following the completion of the purchase, the chief executive officer directly owned 402,702 shares of the company's stock, valued at approximately $1,570,537.80. This trade represents a 2.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 73,571 shares of company stock worth $184,142 over the last three months. 24.40% of the stock is owned by insiders.

Institutional Trading of Edesa Biotech

Several large investors have recently made changes to their positions in EDSA. State Street Corp purchased a new stake in shares of Edesa Biotech during the fourth quarter worth approximately $27,000. Susquehanna International Group LLP purchased a new stake in Edesa Biotech during the 3rd quarter valued at about $36,000. Diadema Partners LP purchased a new stake in Edesa Biotech during the 4th quarter valued at about $77,000. Finally, DRW Securities LLC purchased a new stake in Edesa Biotech during the 4th quarter valued at about $191,000. 5.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on EDSA. Wall Street Zen raised shares of Edesa Biotech from a "sell" rating to a "hold" rating in a report on Sunday, April 5th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Edesa Biotech in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $5.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.