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.
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Jason McCarthy has given his Buy rating due to a combination of factors related to Medicus Pharma Ltd’s ongoing clinical developments and promising interim results. The expansion of the Phase 2 trial for SkinJect in treating nodular basal cell carcinoma (BCC) from 60 to 90 patients, with additional sites in Europe, indicates a strategic move to strengthen the study’s robustness and appeal to potential partners. The interim data showing a complete response rate of over 60% is particularly noteworthy, as even a 30% response rate would have been considered a significant market opportunity.
Furthermore, the company’s plan to request a Type C meeting with the FDA by the end of the second quarter of 2025 to discuss the clinical path forward underscores its commitment to advancing SkinJect towards a potential registration study. The innovative approach of using a dissolvable microneedle patch to deliver doxorubicin directly to the lesion site, without systemic circulation, enhances the safety profile and ease of application, making it a compelling alternative to traditional Mohs surgery. These factors collectively underpin McCarthy’s optimistic outlook and Buy rating for Medicus Pharma Ltd.
In another report released on April 14, D. Boral Capital also initiated coverage with a Buy rating on the stock with a $14.00 price target.