Medexus Pharmaceuticals (TSE:MDP) Reaches New 52-Week High After Analyst Upgrade

Medexus Pharmaceuticals Inc. (TSE:MDP)’s share price hit a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from C$4.15 to C$4.50. The company traded as high as C$4.60 and last traded at C$4.52, with a volume of 77011 shares changing hands. The stock had previously closed at C$4.47.

MDP has been the topic of several other research reports. Alliance Global Partners upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, December 23rd. Leede Financial set a C$8.25 price target on Medexus Pharmaceuticals and gave the company a “speculative buy” rating in a report on Monday, September 30th. Finally, Raymond James upgraded Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 price objective on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Medexus Pharmaceuticals presently has an average rating of “Strong Buy” and a consensus target price of C$5.58.

Medexus Pharmaceuticals Stock Up 2.1 %

The company has a market capitalization of C$108.42 million, a price-to-earnings ratio of 88.40 and a beta of 1.96. The stock has a 50 day simple moving average of C$2.96 and a 200 day simple moving average of C$2.62.

About Medexus Pharmaceuticals

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.