FY2024 Revenue Estimate for Edesa Biotech, Inc. (NASDAQ:EDSA) issued by HC Wainwright

Edesa Biotech, Inc. (NASDAQ:EDSA – Free Report) – Investment analysts at HC Wainwright upped their FY2024 earnings per share estimates for shares of Edesa Biotech in a report issued on Tuesday, August 20th. HC Wainwright analyst V. Bernardino now forecasts that the company will post earnings of ($2.27) per share for the year, up from their prior estimate of ($2.43). HC Wainwright currently has a “Buy” rating and a $21.00 target price on the stock. The consensus estimate for Edesa Biotech’s current full-year earnings is ($2.19) per share. HC Wainwright also issued estimates for Edesa Biotech’s Q4 2024 earnings at ($0.63) EPS and FY2025 earnings at ($2.36) EPS.

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

Edesa Biotech stocks rose 2.4%

Shares of Edesa Biotech stock opened at $4.40 on Thursday. The company has a 50 day moving average price of $4.55 and a two hundred day moving average price of $4.57. Edesa Biotech has a 12-month low of $2.46 and a 12-month high of $8.33.

Hedge funds influence 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 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the company’s stock after purchasing an additional 28,000 shares during the period. CM Management LLC owned about 2.80% of Edesa Biotech worth $385,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.50% of the company’s shares.

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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