Medexus Pharmaceuticals (TSE:MDP) Reaches New 1-Year High – Time to Buy?

Medexus Pharmaceuticals Inc. (TSE:MDP) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$3.19 and last traded at C$3.17, with a volume of 17807 shares changing hands. The stock had previously closed at C$3.05.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDP shares. Stifel Nicolaus raised their price objective on shares of Medexus Pharmaceuticals from C$3.00 to C$3.50 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Leede Financial set a C$8.25 price objective on shares of Medexus Pharmaceuticals and gave the company a “speculative buy” rating in a research note on Monday, September 30th. Finally, Raymond James raised shares of Medexus Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$3.00 to C$4.00 in a research note on Wednesday, November 20th. Three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Medexus Pharmaceuticals presently has an average rating of “Buy” and an average price target of C$5.25.

Medexus Pharmaceuticals Price Performance

The business’s 50-day moving average price is C$2.50 and its two-hundred day moving average price is C$2.29. The company has a market capitalization of C$73.84 million, a P/E ratio of 63.00 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.