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

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

Edesa Biotech Trading Up 7.6 %

NASDAQ EDSA opened at $1.94 on Friday. The stock has a fifty day simple moving average of $2.86 and a 200-day simple moving average of $3.92. Edesa Biotech has a twelve month low of $1.69 and a twelve month high of $5.99.

Wall Street Analysts Forecast Growth

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

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.