Edesa Biotech, Inc. (NASDAQ:EDSA – Get Rating) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 133,600 shares, a drop of 42.7% from the March 15th total of 233,000 shares. Based on an average daily volume of 88,700 shares, the short-interest ratio is currently 1.5 days. Approximately 1.5% of the shares of the company are short sold.
Shares of EDSA opened at $2.83 on Friday. Edesa Biotech has a 12 month low of $2.54 and a 12 month high of $12.00. The company has a 50-day moving average price of $3.33 and a two-hundred day moving average price of $5.25. The stock has a market cap of $39.39 million, a price-to-earnings ratio of -2.46 and a beta of 0.71.
Edesa Biotech (NASDAQ:EDSA – Get Rating) last issued its earnings results on Monday, February 14th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. On average, analysts expect that Edesa Biotech will post -1.38 earnings per share for the current fiscal year.
Separately, HC Wainwright initiated coverage on Edesa Biotech in a research note on Monday, December 20th. They set a “buy” rating and a $16.00 price target on the stock.
About Edesa Biotech (Get Rating)
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 2/Phase 3 clinical study for the treatment of acute respiratory distress syndrome in covid-19 patients; and EB01, a topical cream containing non-steroidal anti-inflammatory compound that is in Phase 2B clinical study to treat chronic allergic contact dermatitis.
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