Medexus Pharmaceuticals (TSE:MDP) Trading Down 13.2% – Time to Sell?

Medexus Pharmaceuticals Inc. (TSE:MDP)’s share price dropped 13.2% during mid-day trading on Thursday . The company traded as low as C$3.25 and last traded at C$3.29. Approximately 114,178 shares were traded during trading, a decline of 36% from the average daily volume of 177,975 shares. The stock had previously closed at C$3.79.

Analyst Ratings Changes

MDP has been the subject of several research analyst reports. Stifel Nicolaus cut shares of Medexus Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$6.00 to C$3.45 in a research report on Friday. Ventum Financial raised their price objective on shares of Medexus Pharmaceuticals from C$5.00 to C$6.25 and gave the stock a “buy” rating in a report on Thursday, January 30th. Ventum Cap Mkts upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 17th. Raymond James upgraded 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 note on Wednesday, January 8th. Finally, Alliance Global Partners raised Medexus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$5.49.

Medexus Pharmaceuticals Stock Performance

The stock has a 50-day moving average of C$3.53 and a two-hundred day moving average of C$2.82. The company has a market cap of C$78.74 million, a P/E ratio of 64.20 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.