Medicus Pharma Stock Scheduled to Reverse Split on Monday, October 12th (NASDAQ:MDCX)

Shares of Medicus Pharma Ltd (NASDAQ:MDCX) are going to reverse split on Monday, October 12th. The 1-50 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, October 11th.

Medicus Pharma Trading Down 36.4%

Shares of MDCX traded down $0.06 during trading hours on Thursday, reaching $0.10. The stock had a trading volume of 14,223,635 shares, compared to its average volume of 4,103,085. The firm has a 50-day simple moving average of $0.22 and a 200 day simple moving average of $0.32. Medicus Pharma has a 12 month low of $0.09 and a 12 month high of $2.78. The company has a market capitalization of $6.44 million, a price-to-earnings ratio of -0.04 and a beta of 0.30.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). On average, equities analysts forecast that Medicus Pharma will post -0.73 EPS for the current year.

Analysts Set New Price Targets

MDCX has been the topic of a number of recent research reports. Alliance Global Partners restated a “buy” rating on shares of Medicus Pharma in a report on Monday, September 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Medicus Pharma in a research note on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Institutional Investors Weigh In On Medicus Pharma

An institutional investor recently bought a new position in Medicus Pharma stock. Sterling Investment Advisors Ltd. acquired a new position in Medicus Pharma Ltd (NASDAQ:MDCX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company’s stock, valued at approximately $45,000. Sterling Investment Advisors Ltd. owned 0.16% of Medicus Pharma as of its most recent filing with the Securities & Exchange Commission.

Medicus Pharma Company Profile

Medicus Pharma Ltd. is a life sciences company focused on acquiring, developing and commercializing innovative therapeutic and medical device technologies. Its activities are centered primarily on wound care, dermatology and related areas of medical treatment.

The company’s portfolio includes Natrox® Oxygen Wound Therapy, a device designed to deliver continuous topical oxygen to the wound site. The technology is intended to support the treatment of chronic and hard-to-heal wounds and may be used in clinical and home-care settings, subject to applicable regulatory approvals.

Medicus Pharma serves healthcare markets through the commercialization of its technologies and partnerships with medical professionals and distribution networks.