Medicus Pharma Ltd (NASDAQ:MDCX) Sees Significant Decrease in Short Interest

Medicus Pharma Ltd (NASDAQ:MDCX) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 1,045,598 shares, a drop of 45.8% from the June 15th total of 1,928,591 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,653,037 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

MDCX has been the subject of a number of analyst reports. D. Boral Capital reissued a “buy” rating and issued a $9.00 price target on shares of Medicus Pharma in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a research report on Wednesday, July 8th. Finally, Roth Capital assumed coverage on Medicus Pharma in a research report on Tuesday, April 21st. They set a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.00.

Medicus Pharma Stock Performance

Shares of MDCX opened at $0.36 on Wednesday. The company has a market capitalization of $20.61 million, a price-to-earnings ratio of -0.14 and a beta of -0.05. The company’s 50 day simple moving average is $0.37 and its 200 day simple moving average is $0.72. Medicus Pharma has a 1 year low of $0.25 and a 1 year high of $3.35.

Medicus Pharma (NASDAQ:MDCX) last announced its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Equities analysts expect that Medicus Pharma will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Medicus Pharma

Several hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC grew its position in shares of Medicus Pharma by 36.8% in the first quarter. Private Advisor Group LLC now owns 240,055 shares of the company’s stock valued at $110,000 after purchasing an additional 64,560 shares during the period. Armistice Capital LLC acquired a new stake in Medicus Pharma in the 4th quarter worth about $2,771,000. Jane Street Group LLC acquired a new stake in Medicus Pharma in the 4th quarter worth about $92,000. HRT Financial LP purchased a new stake in Medicus Pharma in the 4th quarter valued at about $42,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Medicus Pharma by 161.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,493 shares of the company’s stock valued at $44,000 after acquiring an additional 17,611 shares during the last quarter.

Medicus Pharma Company Profile

Medicus Pharma, Inc, traded on the Nasdaq under the ticker MDCX, is a specialty pharmaceutical company focused on the development, acquisition and commercialization of prescription therapies. The company’s core business centers on oncology supportive care and critical care products, with its lead offering being Levoleucovorin injection, an FDA-approved agent designed to reduce toxicity and enhance efficacy of certain chemotherapeutic regimens in colorectal cancer.

Headquartered in the United States, Medicus Pharma has built its portfolio through strategic licensing and acquisition of sterile injectable and oral therapies.