Medexus Pharmaceuticals (TSE:MDP) Stock Price Down 6.5% – Here’s What Happened

Medexus Pharmaceuticals Inc. (TSE:MDP) shares dropped 6.5% during mid-day trading on Tuesday . The stock traded as low as C$4.39 and last traded at C$4.60. Approximately 231,189 shares changed hands during trading, an increase of 52% from the average daily volume of 152,449 shares. The stock had previously closed at C$4.92.

Analyst Ratings Changes

MDP has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Medexus Pharmaceuticals from C$4.15 to C$4.50 in a report on Tuesday, January 14th. Raymond James raised shares of 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. Leede Financial raised Medexus Pharmaceuticals from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Alliance Global Partners upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Ventum Cap Mkts upgraded shares of Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus target price of C$5.58.

Medexus Pharmaceuticals Trading Up 0.3 %

The business has a 50-day simple moving average of C$3.37 and a 200 day simple moving average of C$2.76. The stock has a market cap of C$98.12 million, a P/E ratio of 80.00 and a beta of 1.96.

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.