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

Medicus Pharma Ltd (NASDAQ:MDCX) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 4,998,570 shares, a growth of 49.0% from the August 31st total of 3,355,388 shares. Based on an average daily volume of 16,776,075 shares, the days-to-cover ratio is currently 0.3 days. Approximately 8.6% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Medicus Pharma in a research note on Wednesday, July 8th. Alliance Global Partners reissued a “buy” rating on shares of Medicus Pharma in a report on Monday, September 14th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Medicus Pharma Stock Down 0.6%

MDCX traded down $0.00 during midday trading on Thursday, hitting $0.16. 1,019,070 shares of the company were exchanged, compared to its average volume of 4,089,770. The firm’s 50 day moving average price is $0.24 and its 200-day moving average price is $0.33. Medicus Pharma has a 1-year low of $0.14 and a 1-year high of $2.78. The firm has a market capitalization of $10.11 million, a P/E ratio of -0.07 and a beta of 0.12.

Medicus Pharma (NASDAQ:MDCX) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.08). On average, sell-side analysts predict that Medicus Pharma will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Medicus Pharma stock. Sterling Investment Advisors Ltd. acquired a new position in shares of Medicus Pharma Ltd (NASDAQ:MDCX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Medicus Pharma Company Profile

Medicus Pharma Ltd. is a life sciences company focused on the development, acquisition and commercialization of pharmaceutical and medical technologies. The company’s activities are centered primarily on specialty healthcare markets, including dermatology, wound care and medical aesthetics.

Medicus Pharma seeks to advance products and therapies intended to address underserved clinical needs and to expand access to innovative treatments. Its portfolio may include internally developed and acquired products, with commercialization efforts directed toward healthcare providers and patients in markets where the company has appropriate regulatory and distribution capabilities.

The company is based in Canada and trades on the Nasdaq Capital Market under the symbol MDCX.