Wall Street Zen Upgrades Medicus Pharma (NASDAQ:MDCX) to "Hold"

Wall Street Zen upgraded shares of Medicus Pharma (NASDAQ:MDCX - Free Report) from a sell rating to a hold rating in a research report sent to investors on Friday.

Several other research analysts have also recently weighed in on the company. D Boral Capital raised Medicus Pharma to a "strong-buy" rating in a research report on Monday, April 14th. D. Boral Capital reissued a "buy" rating and issued a $27.00 price objective on shares of Medicus Pharma in a research report on Thursday, May 29th. Finally, Maxim Group boosted their price objective on Medicus Pharma from $10.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $23.50.

Medicus Pharma Stock Down 3.8%

Shares of NASDAQ:MDCX traded down $0.10 during mid-day trading on Friday, hitting $2.53. 511,698 shares of the company traded hands, compared to its average volume of 125,447. Medicus Pharma has a 12-month low of $1.80 and a 12-month high of $8.94. The firm's 50-day moving average price is $4.48.

Medicus Pharma (NASDAQ:MDCX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.19). As a group, equities research analysts expect that Medicus Pharma will post -1.14 earnings per share for the current year.

Insider Activity

In other news, major shareholder Velocity Fund Partners, Lp sold 75,000 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $7.72, for a total transaction of $579,000.00. Following the transaction, the insider now owns 3,248,741 shares of the company's stock, valued at $25,080,280.52. This represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of Medicus Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in MDCX. Interchange Capital Partners LLC bought a new stake in shares of Medicus Pharma during the 4th quarter valued at $3,628,000. Private Advisor Group LLC bought a new stake in shares of Medicus Pharma during the 1st quarter valued at $211,000. Finally, Armistice Capital LLC bought a new stake in shares of Medicus Pharma during the 1st quarter valued at $4,710,000.

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.