Edesa Biotech Inc. (EDSA): A Great Stock For Handling Current Market Conditions?


Credit Suisse Securities (USA) LL.. recently announced the acquisition of new stake in Edesa Biotech Inc. (NASDAQ:EDSA). This fresh investment now brings its stake to 0.11% valued currently at $68500.0. In addition, UBS Securities LLC raised its holdings by 2165.0 to 3200.0 shares.

With over 1.53 million Edesa Biotech Inc. (EDSA) shares trading Friday and a closing price of $8.15 on the day, the dollar volume was approximately $12.48 million. The shares have shown a positive weekly performance of 29.37% and its price on 08/28/20 gained nearly 40.28%. Currently, there are 8.86M common shares owned by the public and among those 5.27M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for EDSA have a consensus price objective of $16.00. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $16.00 should the stock experience a downside. But an upside of 49.06% will see the stock hit the forecast high price target while mean target price for the stock is $16.00.

Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 331,451 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 1,809 shares.

Vanguard Extended Market Index Fu owns 2900.0 shares of the company’s stock, all valued at over $19865.0.

Shares of Edesa Biotech Inc. (NASDAQ: EDSA) opened at $6.10, up $0.29 from a prior closing price of $5.81. However, the script later closed the day at $8.15, up 40.28%. The company’s stock has a 5-day price change of 29.37% and 157.63% over the past three months. EDSA shares are trading 98.78% year to date (YTD), with the 12-month market performance up to 123.90% higher. It has a 12-month low price of $1.58 and touched a high of $19.10 over the same period. Currently, 1.53 million shares have been traded, compared to an average intraday trading volume of 1.84 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.27%, 35.41%, and 105.76% respectively.

Institutional ownership of Edesa Biotech Inc. (NASDAQ: EDSA) shares accounts for 23.20% of the company’s 8.86M shares outstanding. Mutual fund holders own 0.15%, while other institutional holders and individual stakeholders account for 55.61% and 0.03% respectively.

It has a market capitalization of $54.69M and a beta (3y monthly) value of 0.64. The earnings-per-share (ttm) stands at -$0.62. The company has a debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.03% over the week and 12.72% over the month.

Analysts forecast that Edesa Biotech Inc. (EDSA) will achieve an EPS of -$0.17 for the current quarter, $0 for the next quarter and -$1.23 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.17. Earnings per share for the fiscal year are expected to increase by 94.80%, and -73.20% over the next financial year.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”


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