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

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on MDP. 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. Stifel Nicolaus upped their price target on shares of Medexus Pharmaceuticals from C$4.15 to C$4.50 in a research report on Tuesday, January 14th. Raymond James upgraded Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 price target for the company in a report on Wednesday, January 8th. Ventum Cap Mkts upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, January 17th. Finally, Alliance Global Partners upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a report on Monday, December 23rd. Two research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus price target of C$5.58.

Medexus Pharmaceuticals Stock Performance

The stock’s 50 day simple moving average is C$3.04 and its 200 day simple moving average is C$2.66. The firm has a market cap 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.