Medicus Pharma (NASDAQ:MDCX) Releases Earnings Results, Misses Estimates By $0.27 EPS

Medicus Pharma (NASDAQ:MDCX) announced its quarterly earnings results on Friday. The company reported ($0.65) earnings per share 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 stock were exchanged, compared to its average volume of 316,347. Medicus Pharma has a 12-month low of $1.79 and a 12-month high of $8.94. The company’s 50-day moving average price is $2.41 and its 200-day moving average price is $2.99. The firm has a market capitalization of $39.20 million and a price-to-earnings ratio of -1.64.

Institutional Trading of Medicus Pharma

Several institutional investors have recently added to or reduced their stakes in MDCX. Private Advisor Group LLC grew its stake in shares of Medicus Pharma by 3.8% during the third quarter. Private Advisor Group LLC now owns 151,500 shares of the company’s stock valued at $351,000 after buying an additional 5,500 shares during the last quarter. Osaic Holdings Inc. lifted its stake in shares of 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 acquiring an additional 9,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Medicus Pharma during the 2nd quarter valued at $41,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MDCX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Medicus Pharma in a research note on Wednesday, October 8th. Zacks Research raised shares of Medicus Pharma to a “hold” rating in a report on Monday, September 15th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $27.00 price target on shares of Medicus Pharma in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Medicus Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.