Analyst Jason McCarthy of Maxim Group reiterated a Buy rating on Medicus Pharma Ltd (MDCX – Research Report), retaining the price target of $10.00.
Jason McCarthy has given his Buy rating due to a combination of factors surrounding Medicus Pharma Ltd’s promising developments. A major catalyst is anticipated by the end of the first quarter, particularly with interim Phase 2 data in basal cell carcinoma, which holds significant potential for the company’s growth. Additionally, a forthcoming meeting with the FDA is expected to provide further clarity and possibly bolster investor confidence in the company’s strategic direction.
These upcoming events are seen as pivotal moments for Medicus Pharma Ltd, potentially driving the company’s stock value upwards. The anticipation of these catalysts, coupled with the company’s ongoing advancements, underpins McCarthy’s reaffirmation of a Buy rating, suggesting that the stock is currently undervalued and poised for appreciation towards the price target of $10.00.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MDCX in relation to earlier this year.