Medexus Pharmaceuticals (TSE:MDP) Stock Price Down 13.2% – Time to Sell?

Medexus Pharmaceuticals Inc. (TSE:MDP) shares fell 13.2% on Thursday . The company traded as low as C$3.25 and last traded at C$3.29. 114,178 shares were traded during trading, a decline of 36% from the average session volume of 177,975 shares. The stock had previously closed at C$3.79.

Analysts Set New Price Targets

Several brokerages recently commented on MDP. Alliance Global Partners raised Medexus Pharmaceuticals to a “strong-buy” rating in a report on Monday, December 23rd. Stifel Nicolaus boosted their target price on Medexus Pharmaceuticals from C$4.50 to C$6.00 in a report on Thursday, January 30th. Leede Financial raised Medexus Pharmaceuticals from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Ventum Cap Mkts raised Medexus Pharmaceuticals to a “strong-buy” rating in a report on Friday, January 17th. Finally, Ventum Financial boosted their target price on Medexus Pharmaceuticals from C$5.00 to C$6.25 and gave the stock a “buy” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$6.13.

Medexus Pharmaceuticals Price Performance

The company has a market cap of C$73.84 million, a P/E ratio of 60.20 and a beta of 1.96. The company has a fifty day simple moving average of C$3.52 and a 200-day simple moving average of C$2.82.

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.