Medicus Pharma Ltd (NASDAQ:MDCX – Get Free Report) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 43,628 shares, a drop of 98.8% from the September 30th total of 3,686,994 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 116,893 shares, the days-to-cover ratio is currently 0.4 days.
Medicus Pharma Trading Up 0.4%
Shares of NASDAQ MDCX traded up $0.01 during trading hours on Monday, reaching $2.51. The stock had a trading volume of 38,515 shares, compared to its average volume of 88,516. Medicus Pharma has a 52-week low of $2.41 and a 52-week high of $137.00. The firm has a market cap of $3.16 million, a price-to-earnings ratio of -0.02 and a beta of 0.30. The business’s fifty day moving average price is $8.15 and its two-hundred day moving average price is $24.92.
Medicus Pharma (NASDAQ:MDCX – Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($10.50) earnings per share for the quarter, missing the consensus estimate of ($6.38) by ($4.12). Equities research analysts anticipate that Medicus Pharma will post -36.25 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on MDCX. Alliance Global Partners reiterated a “buy” rating on shares of Medicus Pharma in a research report on Monday, September 14th. Wall Street Zen lowered Medicus Pharma to a “strong sell” rating in a research note on Saturday, October 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Medicus Pharma in a report on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $450.00.
Read Our Latest Analysis on MDCX
Hedge Funds Weigh In On Medicus Pharma
A hedge fund recently raised its stake in Medicus Pharma stock. Private Advisor Group LLC grew its stake in shares of Medicus Pharma Ltd (NASDAQ:MDCX – Free Report) by 36.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,055 shares of the company’s stock after acquiring an additional 64,560 shares during the quarter. Private Advisor Group LLC owned about 0.61% of Medicus Pharma worth $110,000 as of its most recent SEC filing.
Medicus Pharma Company Profile
Medicus Pharma Ltd. is a life sciences company focused on acquiring, developing and commercializing innovative therapeutic and medical device technologies. Its activities are centered primarily on wound care, dermatology and related areas of medical treatment.
The company’s portfolio includes Natrox® Oxygen Wound Therapy, a device designed to deliver continuous topical oxygen to the wound site. The technology is intended to support the treatment of chronic and hard-to-heal wounds and may be used in clinical and home-care settings, subject to applicable regulatory approvals.
Medicus Pharma serves healthcare markets through the commercialization of its technologies and partnerships with medical professionals and distribution networks.
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