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

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

Analyst Ratings Changes

MDP has been the subject of a number of recent analyst reports. Raymond James upgraded shares of Medexus Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the company from C$3.00 to C$4.00 in a report on Wednesday, November 20th. Stifel Nicolaus upped their price target on shares of Medexus Pharmaceuticals from C$3.00 to C$3.50 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Leede Financial set a C$8.25 price target on shares of Medexus Pharmaceuticals and gave the company a “speculative buy” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$5.25.

Medexus Pharmaceuticals Stock Down 1.3 %

The stock has a market cap of C$73.84 million, a price-to-earnings ratio of 63.00 and a beta of 1.96. The company’s 50-day moving average is C$2.50 and its 200-day moving average is C$2.29.

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.