Edesa Biotech (NASDAQ:EDSA) Posts Earnings Results, Misses Expectations By $0.16 EPS

Key Points

• Edesa Biotech reported a quarterly loss of $0.60 per share, missing analyst expectations by $0.16.
• Shares traded at $5.43, within a highly volatile one-year range of $0.72 to $20.32; the consensus analyst price target is $5.00.
• Analyst opinions remain mixed, ranging from Strong Buy to Strong Sell, while institutional investors own 5.50% of the stock.

Edesa Biotech (NASDAQ:EDSA - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.16), FiscalAI reports.

Edesa Biotech Price Performance

Shares of NASDAQ EDSA traded up $0.13 during trading hours on Thursday, hitting $5.43. 35,081 shares of the stock were exchanged, compared to its average volume of 58,385. Edesa Biotech has a one year low of $0.72 and a one year high of $20.32. The company's 50 day moving average is $6.29 and its 200 day moving average is $6.38.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech in the third quarter valued at about $36,000. State Street Corp acquired a new position in shares of Edesa Biotech during the 4th quarter worth about $27,000. Diadema Partners LP acquired a new position in shares of Edesa Biotech during the 4th quarter worth about $77,000. Finally, DRW Securities LLC acquired a new position in shares of Edesa Biotech during the 4th quarter worth about $191,000. Institutional investors and hedge funds own 5.50% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Brookline Capital Markets raised shares of Edesa Biotech to a "strong-buy" rating in a research report on Monday, June 29th. Wall Street Zen cut shares of Edesa Biotech from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Edesa Biotech in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Edesa Biotech presently has an average rating of "Moderate Buy" 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.

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