Medexus Pharmaceuticals (TSE:MDP) Stock Price Up 38.6% – What’s Next?

Shares of Medexus Pharmaceuticals Inc. (TSE:MDP) shot up 38.6% during mid-day trading on Wednesday . The company traded as high as C$5.56 and last traded at C$5.53. 231,254 shares were traded during mid-day trading, an increase of 139% from the average session volume of 96,646 shares. The stock had previously closed at C$3.99.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MDP shares. Ventum Cap Mkts upgraded Medexus Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 17th. 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. Leede Financial raised shares of Medexus Pharmaceuticals from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday. Raymond James raised shares of Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Alliance Global Partners raised Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of C$5.58.

Medexus Pharmaceuticals Trading Up 10.1 %

The stock has a market capitalization of C$120.69 million, a P/E ratio of 98.40 and a beta of 1.96. The stock’s 50 day simple moving average is C$3.25 and its 200 day simple moving average is C$2.72.

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.