Medicus Pharma Ltd (MDCX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group reiterated a Buy rating on the stock and has a $10.00 price target.
Jason McCarthy has given his Buy rating due to a combination of factors surrounding Medicus Pharma Ltd’s recent developments and market potential. The company has reported promising interim results from its Phase 2 trial of SkinJect, a treatment for nodular basal cell carcinoma, showing over 60% complete response rate in patients. This result is significant, especially when compared to the base case success rate of 30%, considering the high number of Mohs surgeries performed annually in the US.
Furthermore, Medicus Pharma’s recent IPO and listing on the Nasdaq have positioned it as an under-the-radar opportunity in the market. The ongoing trial’s positive safety profile and the potential for SkinJect to serve as a non-invasive alternative to the current standard of care, Mohs surgery, highlight a substantial market opportunity. With plans to discuss further clinical development with the FDA, Medicus Pharma is well-positioned for growth, making it an attractive investment option.
McCarthy covers the Healthcare sector, focusing on stocks such as Medicus Pharma Ltd, SELLAS Life Sciences Group, and Alterity Therapeutics. According to TipRanks, McCarthy has an average return of -19.5% and a 24.55% success rate on recommended stocks.
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