Analysts Provide Edesa Biotech, Inc.’s 2024 Earnings Forecasts (NASDAQ:EDSA)

Edesa Biotech, Inc. (NASDAQ:EDSA – Free Report) – Zacks Small Cap cut their FY2024 earnings estimates for shares of Edesa Biotech in a research report issued to clients and investors on Tuesday, August 20th. Zacks Small Cap analyst D. Bautz now expects that the company will post earnings of ($2.04) per share for the year, down from their prior forecast of ($1.95). The consensus estimate for Edesa Biotech’s current full-year earnings is ($2.19) per share.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of Edesa Biotech in a research report on Tuesday.

Read Edesa Biotech’s latest stock report

Edesa Biotech stocks rose 2.4%

Shares of Edesa Biotech stock opened at $4.40 on Thursday. Edesa Biotech has a 52 week low of $2.46 and a 52 week high of $8.33. The company’s fifty-day simple moving average is $4.55, and its 200-day simple moving average is $4.57.

Edesa Biotech (NASDAQ:EDSA – Get Your Free Report ) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.06.

Institutional trading of Edesa Biotech

An institutional investor recently lifted its position in shares of Edesa Biotech. CM Management LLC raised its position in Edesa Biotech, Inc. (NASDAQ:EDSA – Free Report) by 45.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the company’s stock after purchasing an additional 28,000 shares during the quarter. CM Management LLC owned 2.80% of Edesa Biotech worth $385,000 as of its most recent filing with the Securities and Exchange Commission. 5.50% of the shares are held by hedge funds and other institutional investors.

Edesa Biotech company profile

(Get a free report)

Edesa Biotech, Inc, a clinical-stage biopharmaceutical company, is engaged in the research and development, manufacturing and commercialization of pharmaceutical products for inflammatory and immune-related diseases. The lead product candidate is EB05, a monoclonal antibody, which is in phase 3 clinical trial for the treatment of acute respiratory distress syndrome in patients with Covid-19; and EB01, a topical fading cream containing a non-steroidal anti-inflammatory compound that has completed Phase 2b clinical trial to treat chronic allergic contact dermatitis.

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