MGC Pharmaceuticals (LON:MXC) Stock Price Down 2%

MGC Pharmaceuticals Limited (LON:MXC – Get Rating) shares fell 2% during trading on Wednesday . The stock traded as low as GBX 1.15 ($0.01) and last traded at GBX 1.20 ($0.01). 1,872,654 shares changed hands during trading, a decline of 57% from the average session volume of 4,351,312 shares. The stock had previously closed at GBX 1.23 ($0.01).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 7.20 ($0.09) price target on shares of MGC Pharmaceuticals in a research report on Tuesday, April 5th.

MGC Pharmaceuticals Price Performance

The stock has a fifty day moving average of GBX 1.04 and a two-hundred day moving average of GBX 1.29. The stock has a market cap of £32.74 million and a price-to-earnings ratio of -3.00. The company has a quick ratio of 1.50, a current ratio of 1.87 and a debt-to-equity ratio of 23.87.

Insiders Place Their Bets

In other news, insider Roby Zomer bought 819,672 shares of the firm’s stock in a transaction on Friday, May 6th. The shares were bought at an average cost of GBX 1 ($0.01) per share, for a total transaction of £8,196.72 ($9,875.57).

MGC Pharmaceuticals Company Profile

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MGC Pharmaceuticals Limited, a bio-pharma company, develops and supplies phytomedicines in Australia, Israel, and Slovenia. The company's principal product candidates include CimetrA, which is in phase III clinical trial for early COVID-19; CannEpil, a phase IIb cannabis-based therapy for drug-resistant Epilepsy; and CogniCann that is in phase II clinical trial for symptomatic relief of Dementia.