Medicus Pharma (NASDAQ:MDCX) Rating Lowered to Sell at Wall Street Zen

Medicus Pharma (NASDAQ:MDCX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Thursday.

MDCX has been the topic of a number of other reports. Maxim Group raised their price target on Medicus Pharma from $10.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. D. Boral Capital restated a “buy” rating and issued a $27.00 price target on shares of Medicus Pharma in a research note on Thursday. Finally, D Boral Capital upgraded Medicus Pharma to a “strong-buy” rating in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.50.

Medicus Pharma Stock Up 3.0%

NASDAQ:MDCX opened at $7.29 on Thursday. The company has a fifty day moving average of $4.37. Medicus Pharma has a 12-month low of $1.80 and a 12-month high of $8.94.

Medicus Pharma (NASDAQ:MDCX) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.19). Equities research analysts predict that Medicus Pharma will post -1.14 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Medicus Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in shares of Medicus Pharma in the 1st quarter valued at about $4,710,000. Private Advisor Group LLC purchased a new stake in shares of Medicus Pharma during the 1st quarter worth approximately $211,000. Finally, Interchange Capital Partners LLC boosted its stake in shares of Medicus Pharma by 14.0% during the 1st quarter. Interchange Capital Partners LLC now owns 1,661,871 shares of the company’s stock worth $6,182,000 after acquiring an additional 204,706 shares in the last quarter.

Medicus Pharma Company Profile

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.