Edesa Biotech (NASDAQ:EDSA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Edesa Biotech in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Edesa Biotech has an average rating of "Hold" and an average price target of $5.00.
View Our Latest Stock Report on Edesa Biotech
Edesa Biotech Price Performance
Shares of NASDAQ:EDSA opened at $6.14 on Friday. The company has a market cap of $51.27 million, a PE ratio of -5.34 and a beta of -0.68. Edesa Biotech has a fifty-two week low of $0.72 and a fifty-two week high of $9.37. The company's 50-day moving average price is $3.59 and its 200 day moving average price is $2.50.
Edesa Biotech (NASDAQ:EDSA - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The company reported ($0.28) EPS for the quarter, meeting analysts' consensus estimates of ($0.28). The company had revenue of $0.11 million for the quarter. As a group, equities analysts anticipate that Edesa Biotech will post -1.75 EPS for the current year.
Insiders Place Their Bets
In other Edesa Biotech news, CEO Pardeep Nijhawan bought 30,000 shares of the company's stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $2.22 per share, for a total transaction of $66,600.00. Following the acquisition, the chief executive officer directly owned 371,702 shares of the company's stock, valued at approximately $825,178.44. This trade represents a 8.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 73,571 shares of company stock worth $184,142. Insiders own 22.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDSA. DRW Securities LLC acquired a new position in Edesa Biotech in the 4th quarter valued at approximately $191,000. Diadema Partners LP acquired a new stake in shares of Edesa Biotech during the 4th quarter valued at $77,000. State Street Corp purchased a new position in shares of Edesa Biotech during the 4th quarter valued at $27,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech in the third quarter worth $36,000. 5.50% of the stock is owned by hedge funds and other institutional investors.
About Edesa Biotech
(
Get Free Report)
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.
See Also
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.
Before you consider Edesa Biotech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edesa Biotech wasn't on the list.
While Edesa Biotech currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply click the link below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
