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

Medicus Pharma Ltd (NASDAQ:MDCX)’s stock is scheduled to reverse split on the morning of 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 Trading Down 36.4%

Medicus Pharma stock traded down $0.06 during trading hours on Thursday, reaching $0.10. 14,223,635 shares of the stock were exchanged, compared to its average volume of 4,184,012. Medicus Pharma has a twelve month low of $0.09 and a twelve month high of $2.78. The stock has a 50 day moving average of $0.22 and a two-hundred day moving average of $0.32.

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

Analyst Ratings Changes

Several research analysts have commented on MDCX shares. Alliance Global Partners restated a “buy” rating on shares of Medicus Pharma in a research report on Monday, September 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Medicus Pharma in a research note on Friday, October 2nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Investors Weigh In On Medicus Pharma

A hedge fund recently raised its position in Medicus Pharma stock. Private Advisor Group LLC boosted its stake in Medicus Pharma Ltd (NASDAQ:MDCX) by 36.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,055 shares of the company’s stock after purchasing an additional 64,560 shares during the period. Private Advisor Group LLC owned about 0.61% of Medicus Pharma worth $110,000 at the end of the most recent quarter.

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.