Medexus Pharmaceuticals (TSE:MDP) Shares Up 38.6% – Here’s Why

Medexus Pharmaceuticals Inc. (TSE:MDP)’s stock price was up 38.6% during trading on Wednesday . The stock traded as high as C$5.56 and last traded at C$5.53. Approximately 231,254 shares were traded during mid-day trading, an increase of 139% from the average daily volume of 96,646 shares. The stock had previously closed at C$3.99.

Analyst Ratings Changes

Several research firms have commented on MDP. Alliance Global Partners raised shares of Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, December 23rd. Stifel Nicolaus lifted their price target on Medexus Pharmaceuticals from C$4.15 to C$4.50 in a report on Tuesday, January 14th. Ventum Cap Mkts upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, January 17th. Raymond James raised Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 target price for the company in a research report on Wednesday, January 8th. Finally, Leede Financial set a C$8.25 price target on shares of Medexus Pharmaceuticals and gave the stock a “speculative buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of C$5.58.

Medexus Pharmaceuticals Price Performance

The company has a 50 day simple moving average of C$3.04 and a 200-day simple moving average of C$2.66. The stock has a market capitalization of C$110.14 million, a P/E ratio of 89.80 and a beta of 1.96.

Medexus Pharmaceuticals Company Profile

Medexus Pharmaceuticals Inc operates as a specialty pharmaceutical company in Canada and the United States. The company focuses on the therapeutic areas comprising oncology, hematology, rheumatology, auto-immune diseases, allergy, and dermatology. Its primary products are IXINITY, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with hemophilia B; Rasuvo and Metoject, a formulation of methotrexate designed to treat rheumatoid arthritis and other auto-immune diseases; Rupall, a prescription allergy medication; and Gleolan, an optical imaging agent indicated in patients with glioma as an adjunct for the visualization of malignant tissue during surgery.