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

Medicus Pharma Ltd (NASDAQ:MDCX)’s stock is scheduled 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 Price Performance

Medicus Pharma stock traded down $0.06 during mid-day trading on Thursday, reaching $0.10. 14,223,635 shares of the company were exchanged, compared to its average volume of 4,103,085. The company has a fifty day simple moving average of $0.22 and a 200-day simple moving average of $0.32. The firm has a market cap of $6.44 million, a PE ratio of -0.04 and a beta of 0.30. Medicus Pharma has a 12 month low of $0.09 and a 12 month high of $2.78.

Medicus Pharma (NASDAQ:MDCX) last released its earnings results on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.08). Sell-side analysts anticipate that Medicus Pharma will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on MDCX. Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a research report on Friday, October 2nd. Alliance Global Partners reiterated a “buy” rating on shares of Medicus Pharma in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Medicus Pharma stock. Sterling Investment Advisors Ltd. acquired a new position in shares of Medicus Pharma Ltd (NASDAQ:MDCX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $45,000. Sterling Investment Advisors Ltd. owned approximately 0.16% of Medicus Pharma at the end of the most recent reporting period.

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.