Edesa Biotech (NASDAQ:EDSA) Upgraded to Strong-Buy at Brookline Capital Markets

Brookline Capital Markets upgraded shares of Edesa Biotech (NASDAQ:EDSA) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports. Brookline Capital Markets also issued estimates for Edesa Biotech’s FY2029 earnings at ($1.87) EPS and FY2030 earnings at ($0.83) EPS.

Several other equities research analysts have also recently commented on EDSA. Wall Street Zen raised Edesa Biotech from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Edesa Biotech in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

Edesa Biotech Price Performance

EDSA opened at $8.13 on Monday. Edesa Biotech has a one year low of $0.72 and a one year high of $20.32. The company’s 50 day simple moving average is $9.49 and its 200-day simple moving average is $5.34. The stock has a market capitalization of $72.28 million, a P/E ratio of -6.07 and a beta of 1.03.

Edesa Biotech (NASDAQ:EDSA) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.25). As a group, analysts anticipate that Edesa Biotech will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Edesa Biotech

A number of hedge funds and other institutional investors have recently bought and sold shares of EDSA. State Street Corp acquired a new stake in Edesa Biotech during the 4th quarter worth $27,000. Susquehanna International Group LLP acquired a new position in shares of Edesa Biotech in the 3rd quarter valued at $36,000. Diadema Partners LP bought a new position in shares of Edesa Biotech in the 4th quarter worth $77,000. DRW Securities LLC bought a new position in shares of Edesa Biotech in the 4th quarter worth $191,000. Finally, Perceptive Advisors LLC acquired a new stake in shares of Edesa Biotech during the first quarter worth $2,946,000. 5.50% of the stock is owned by institutional investors.

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.