Edesa Biotech (NASDAQ:EDSA) Releases Earnings Results, Beats Expectations By $0.25 EPS

Edesa Biotech (NASDAQ:EDSA) posted its quarterly earnings data on Friday. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.25, Zacks reports.

Edesa Biotech Stock Performance

NASDAQ EDSA traded up $0.14 during trading hours on Friday, hitting $1.94. 26,998 shares of the company’s stock were exchanged, compared to its average volume of 15,515. The business’s 50 day moving average is $2.91 and its 200-day moving average is $3.94. Edesa Biotech has a 12-month low of $1.69 and a 12-month high of $5.99.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 target price on shares of Edesa Biotech in a research note on Tuesday, August 20th.

Edesa Biotech Company Profile

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.