Medexus Pharmaceuticals (TSE:MDP) Hits New 52-Week High – Here’s What Happened

Medexus Pharmaceuticals Inc. (TSE:MDP) shares reached a new 52-week high during mid-day trading on Wednesday . The stock 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.

Wall Street Analysts Forecast Growth

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

Medexus Pharmaceuticals Stock Performance

The firm has a market cap of C$71.14 million, a price-to-earnings ratio of 61.00 and a beta of 1.96. The stock’s fifty day moving average is C$2.51 and its two-hundred day moving average is C$2.31.

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.