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

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MDP shares. Raymond James upgraded Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 target price on the stock in a report on Wednesday, January 8th. Ventum Cap Mkts upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 17th. Leede Financial upgraded Medexus Pharmaceuticals from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Alliance Global Partners upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Stifel Nicolaus upped their target price on shares of Medexus Pharmaceuticals from C$4.15 to C$4.50 in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average price target of C$5.58.

Medexus Pharmaceuticals Price Performance

The stock has a market capitalization of C$98.12 million, a PE ratio of 80.00 and a beta of 1.96. The stock’s 50 day simple moving average is C$3.37 and its two-hundred day simple moving average is C$2.76.

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.