Edesa Biotech (EDSA) Receives a Buy from Brookline Capital Markets


Brookline Capital Markets analyst Kumaraguru Raja reiterated a Buy rating on Edesa Biotech (EDSA) today and set a price target of $16.00. The company’s shares closed last Tuesday at $4.93.

According to TipRanks.com, Raja is a 4-star analyst with an average return of 23.1% and a 47.6% success rate. Raja covers the Healthcare sector, focusing on stocks such as Monopar Therapeutics Inc, Arcturus Therapeutics, and Heat Biologics.

Currently, the analyst consensus on Edesa Biotech is a Moderate Buy with an average price target of $16.00.

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The company has a one-year high of $19.10 and a one-year low of $1.58. Currently, Edesa Biotech has an average volume of 129.8K.

Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EDSA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Edesa Biotech, Inc. is a biopharmaceutical company. It focuses on acquiring, developing and commercializing clinical stage drugs for dermatological and gastrointestinal indications with clear unmet medical needs. The company product candidate, EB01, is a sPLA2 inhibitor for the topical treatment of chronic allergic contact dermatitis (ACD), a common, potentially debilitating condition and occupational illness. EB01 employs a novel, non-steroidal mechanism of action and in two clinical studies has demonstrated statistically significant improvement of multiple symptoms in ACD patients. Edesa Biotech was founded in 2007 and is headquartered in Markham, Canada.

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