Medexus Pharmaceuticals (TSE:MDP) Sets New 52-Week High – Should You Buy?

Shares of Medexus Pharmaceuticals Inc. (TSE:MDP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$3.83 and last traded at C$3.84, with a volume of 84289 shares trading hands. The stock had previously closed at C$3.60.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MDP shares. Alliance Global Partners raised Medexus Pharmaceuticals to a “strong-buy” rating in a research report on Monday, December 23rd. Raymond James raised Medexus Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and set a C$4.00 price objective on the stock in a research note on Wednesday. Finally, Leede Financial set a C$8.25 target price on shares of Medexus Pharmaceuticals and gave the company a “speculative buy” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of C$5.25.

Medexus Pharmaceuticals Stock Down 0.7 %

The firm has a market cap of C$99.10 million, a price-to-earnings ratio of 80.80 and a beta of 1.96. The firm has a fifty day moving average price of C$2.77 and a 200-day moving average price of C$2.53.

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.