HC Wainwright & Co. Maintains Buy on Edesa Biotech, Lowers Price Target to $21
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Vernon Bernardino has maintained a Buy rating on Edesa Biotech (NASDAQ:EDSA) but has reduced the price target from $70 to $21. This adjustment reflects a significant change in the expected future performance of the company's stock.
November 29, 2023 | 11:35 am
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Edesa Biotech's price target has been significantly lowered from $70 to $21 by HC Wainwright & Co., although the Buy rating is maintained.
The reduction in price target by such a large margin suggests that the analyst sees less upside potential or increased risks associated with Edesa Biotech. This could lead to a negative investor sentiment and a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100