Medicus Pharma (NASDAQ:MDCX) Issues Quarterly Earnings Results

Medicus Pharma (NASDAQ:MDCX) released its quarterly earnings data on Friday. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.27), Zacks reports.

Medicus Pharma Trading Down 2.7%

Shares of MDCX stock traded down $0.06 during trading hours on Friday, reaching $2.20. 93,639 shares of the company’s stock were exchanged, compared to its average volume of 316,347. Medicus Pharma has a fifty-two week low of $1.79 and a fifty-two week high of $8.94. The stock’s 50 day moving average is $2.41 and its 200-day moving average is $2.99. The company has a market cap of $39.20 million and a price-to-earnings ratio of -1.64.

Hedge Funds Weigh In On Medicus Pharma

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Medicus Pharma in the 2nd quarter valued at approximately $41,000. Osaic Holdings Inc. grew its position in Medicus Pharma by 180.0% during the 2nd quarter. Osaic Holdings Inc. now owns 14,000 shares of the company’s stock worth $42,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Private Advisor Group LLC grew its position in Medicus Pharma by 3.8% during the 3rd quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock worth $351,000 after purchasing an additional 5,500 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have commented on MDCX shares. Zacks Research upgraded Medicus Pharma to a “hold” rating in a report on Monday, September 15th. D. Boral Capital restated a “buy” rating and set a $27.00 price target on shares of Medicus Pharma in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Medicus Pharma in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.50.

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.