HC Wainwright Reiterates “Buy” Rating for Edesa Biotech (NASDAQ:EDSA)

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

Edesa Biotech Trading Up 0.4 %

Edesa Biotech stock opened at $2.39 on Thursday. The firm has a 50-day moving average price of $2.09 and a 200-day moving average price of $2.79. The firm has a market capitalization of $16.71 million, a PE ratio of -1.28 and a beta of 0.77. Edesa Biotech has a 12-month low of $1.55 and a 12-month high of $5.59.

Edesa Biotech (NASDAQ:EDSA) last released its earnings results on Friday, February 14th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.17). During the same period in the previous year, the company posted ($0.54) EPS. As a group, sell-side analysts predict that Edesa Biotech will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edesa Biotech

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

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.