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

Shares of Medicus Pharma Ltd (NASDAQ:MDCX) are set 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

Shares of NASDAQ MDCX traded down $0.06 during trading on Thursday, hitting $0.10. 14,223,635 shares of the company were exchanged, compared to its average volume of 4,184,012. Medicus Pharma has a 1 year low of $0.09 and a 1 year high of $2.78. The firm’s fifty day moving average price is $0.22 and its 200 day moving average price is $0.32.

Medicus Pharma (NASDAQ:MDCX) last announced its quarterly earnings results 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). Analysts forecast that Medicus Pharma will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Medicus Pharma

An institutional investor recently raised its stake in Medicus Pharma stock. Private Advisor Group LLC raised its holdings in Medicus Pharma Ltd (NASDAQ:MDCX) by 36.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 240,055 shares of the company’s stock after purchasing an additional 64,560 shares during the period. Private Advisor Group LLC owned 0.61% of Medicus Pharma worth $110,000 at the end of the most recent reporting period.

About Medicus Pharma

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.