Medicus Pharma (NASDAQ:MDCX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Medicus Pharma (NASDAQ:MDCX) from a sell rating to a hold rating in a report released on Friday morning.

Several other research firms have also issued reports on MDCX. Maxim Group increased their price objective on Medicus Pharma from $10.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. D Boral Capital upgraded Medicus Pharma to a “strong-buy” rating in a report on Monday, April 14th. Finally, D. Boral Capital restated a “buy” rating and set a $27.00 target price on shares of Medicus Pharma in a report on Thursday. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Medicus Pharma presently has an average rating of “Buy” and a consensus target price of $23.50.

Medicus Pharma Price Performance

Medicus Pharma stock opened at $2.45 on Friday. The business’s fifty day moving average is $4.51. Medicus Pharma has a 52-week low of $1.80 and a 52-week high of $8.94.

Medicus Pharma (NASDAQ:MDCX) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.19). Equities analysts anticipate that Medicus Pharma will post -1.14 EPS for the current fiscal year.

Insider Transactions at Medicus Pharma

In other news, major shareholder Velocity Fund Partners, Lp sold 75,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $7.72, for a total transaction of $579,000.00. Following the sale, the insider now owns 3,248,741 shares in the company, valued at approximately $25,080,280.52. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Medicus Pharma

Several hedge funds have recently added to or reduced their stakes in MDCX. Interchange Capital Partners LLC bought a new position in Medicus Pharma in the fourth quarter valued at about $3,628,000. Private Advisor Group LLC bought a new position in Medicus Pharma in the first quarter valued at about $211,000. Finally, Armistice Capital LLC bought a new position in Medicus Pharma in the first quarter valued at about $4,710,000.

About Medicus Pharma

Medicus Pharma Ltd is a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets. Medicus Pharma Ltd is based in Toronto, Ontario.