Medicure (MPH) AI Stock Analysis

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Medicure

(MPH)

Rating:53Neutral

Price Target:

C$1.00

▼(-13.04% Downside)

The overall stock score reflects moderate financial performance with potential for revenue growth but significant challenges in profitability and cash flow consistency. Technical analysis shows mixed signals, with short-term bullishness but medium-term caution. Valuation is a concern due to ongoing losses and lack of dividend yield.

Medicure (MPH) vs. iShares MSCI Canada ETF (EWC)

Market Cap

C$12.00M

Dividend YieldN/A

Average Volume (3M)1.89K

Price to Earnings (P/E)―

Beta (1Y)0.85

Revenue Growth10.84%

EPS Growth48.57%

CountryCA

Employees25

SectorHealthcare

Sector Strength46

IndustryDrug Manufacturers - Specialty & Generic

Share Statistics

EPS (TTM)-0.07

Shares Outstanding10,436,313

10 Day Avg. Volume2,966

30 Day Avg. Volume1,887

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

C$1.00

Price Target Upside-13.04% Downside

Rating ConsensusHold

Number of Analyst Covering0

Medicure Business Overview & Revenue Model

Company DescriptionMedicure Inc., a biopharmaceutical company, engages in the research, development, and commercialization of human therapies for the cardiovascular market in Canada and the United States. The company markets and distributes AGGRASTAT injection, a glycoprotein GP IIb/IIIa receptor antagonist for the treatment of acute coronary syndrome, including unstable angina and non-Q-wave myocardial infarction. It also offers ZYPITAMAG to treat patients with primary hyperlipidemia or mixed dyslipidemia. In addition, the company offers ReDS, a non-invasive medical device that offers measurement of lung fluid for the management of congestive heart failure. Further, the company offers Sodium Nitroprusside injection for the reduction of blood pressure for adult and pediatric patients in hypertensive crisis, as well as for producing controlled hypotension to reduce bleeding during surgery, and for the treatment of acute congestive heart failure. It offers products through retail pharmacies, as well as online. The company was incorporated in 1997 and is headquartered in Winnipeg, Canada.

How the Company Makes MoneyMedicure Inc. generates revenue primarily through the sale of its cardiovascular medications and related healthcare products. The company markets its products to healthcare providers, hospitals, and pharmacies, both directly and through distribution partners. Key revenue streams include direct sales of branded pharmaceutical products and licensing agreements for distribution rights. Additionally, Medicure may engage in strategic partnerships and collaborations with other pharmaceutical companies to expand its market reach and product offerings, thereby bolstering its earnings potential.

Medicure Earnings Call Summary

Earnings Call Date:Aug 20, 2025

(Q4-2024)

% Change Since: |

Next Earnings Date:Nov 19, 2025

Earnings Call Sentiment Neutral

The earnings call presented a mixed performance with growth in certain product lines and strategic acquisitions aimed at expansion. However, these were offset by significant challenges such as decreased AGGRASTAT revenue, increased costs, and a resulting negative EBITDA and net loss. The positive aspects of strategic growth were balanced by financial challenges.

Q4-2024 Updates

Positive Updates

Increased ZYPITAMAG Revenue

ZYPITAMAG sales through Marley Drug grew by 23% from $2.6 million in 2023 to $3.2 million in 2024. Revenue through insured channels also grew by 25% from $2.4 million in 2023 to $3 million in 2024.

Marley Drug Revenue Growth

Net revenue for Marley Drug grew by 12.5% from $9.6 million in 2023 to $10.8 million in 2024.

Strategic Acquisitions

Medicure acquired Gateway Medical and signed an agreement to acquire West Olympia Pharmacy, expanding its Retail Pharmacy segment and creating synergies with Marley Drug.

Legal Settlement Income

The company recorded $1.9 million in other income due to a legal settlement with its contract development and manufacturing organization.

Cash Position

As of December 31, 2024, Medicure had cash totaling approximately $7.2 million, an increase from $6.4 million as of December 31, 2023. The company remains debt-free.

Negative Updates

Decreased AGGRASTAT Revenue

Net revenue from AGGRASTAT decreased from $9.7 million in 2023 to $8.1 million in 2024 due to pricing pressures from generic competition.

Increased Costs and Expenses

Higher Marley Drug cost of goods, increased R&D expenses to $3.1 million, and higher general and administrative expenses primarily due to legal fees.

Negative EBITDA

Adjusted EBITDA for 2024 was negative $437,000, compared to an adjusted EBITDA of $1.9 million in 2023.

Net Loss

The company recorded a net loss of approximately $1 million in 2024, compared to a net loss of $922,000 in 2023.

Company Guidance

During the conference call, Medicure provided guidance on its financial performance for the year ended December 31, 2024, highlighting several key metrics. The company reported net revenue of $21.9 million, a slight increase from $21.7 million in the previous year, but experienced a net loss of approximately $1 million or $0.10 per share, compared to a net loss of $922,000 or $0.09 per share in the prior year. AGGRASTAT revenue decreased to $8.1 million from $9.7 million due to pricing pressures from generics, while ZYPITAMAG revenue through traditional insurance increased to $3 million from $2.4 million, attributed to greater utilization through insurance formularies. Marley Drug's net revenue rose to $10.8 million from $9.6 million, driven by changes in product mix and increased ZYPITAMAG sales. Despite these increases, adjusted EBITDA was negative $437,000, down from $1.9 million the previous year, due to higher costs of goods and R&D expenses totaling $3.1 million primarily for the MC-1 PNPO clinical trial. The company also highlighted strategic acquisitions of Gateway Medical and West Olympia Pharmacy, aiming to expand its Retail Pharmacy operating segment and create synergies with Marley Drug. Additionally, Medicure remains focused on developing new products, including a novel drug related to MC-1, with significant market potential.

Medicure Financial Statement Overview

Summary

Medicure shows potential in revenue growth and maintaining a strong equity base, but profitability and cash flow consistency are major challenges. The company needs to focus on operational efficiencies to improve margins and stabilize cash flows for better financial health.

Income Statement

Neutral

Medicure has shown some improvement in revenue over the years, but profitability remains a concern with recurring net losses. The gross profit margin is relatively stable, but negative EBIT and net profit margins indicate operational challenges. The revenue growth is slow, and efforts to improve EBITDA have not fully translated into net profitability.

Balance Sheet

Neutral

The company's balance sheet shows moderate financial stability with a low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting ongoing losses. The equity ratio suggests that a good portion of the assets is funded by equity, which is a positive sign of financial health.

Cash Flow

Neutral

Medicure's cash flow from operations is positive, but free cash flow has been inconsistent due to capital expenditures. The operating cash flow to net income ratio is favorable, indicating strong cash generation relative to earnings. However, the free cash flow growth rate is volatile, reflecting fluctuations in investment and capital spending.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	21.70M	21.91M	21.69M	23.07M	21.74M	11.61M
Gross Profit	12.04M	13.09M	13.99M	16.07M	12.71M	5.13M
EBITDA	951.00K	1.54M	1.27M	3.44M	2.39M	-4.04M
Net Income	-1.78M	-1.04M	-922.00K	1.36M	-727.00K	-6.84M
Balance Sheet
Total Assets	29.78M	29.68M	28.06M	29.90M	28.41M	34.05M
Cash, Cash Equivalents and Short-Term Investments	7.22M	7.19M	6.37M	4.86M	3.69M	2.72M
Total Debt	876.00K	874.00K	544.00K	849.00K	1.17M	1.45M
Total Liabilities	9.68M	8.90M	8.16M	8.89M	10.00M	14.91M
Stockholders Equity	20.09M	20.78M	19.90M	21.00M	18.41M	19.15M
Cash Flow
Free Cash Flow	1.51M	638.00K	1.81M	1.52M	3.17M	-2.24M
Operating Cash Flow	2.17M	1.38M	2.08M	1.83M	3.99M	-2.24M
Investing Cash Flow	-1.19M	-739.00K	-270.00K	-310.00K	-2.69M	-7.24M
Financing Cash Flow	-383.00K	-370.00K	-297.00K	-355.00K	-316.00K	-766.00K

Medicure Technical Analysis

Technical Analysis Sentiment

Positive

Last Price1.15

Price Trends

50DMA

1.17

Negative

100DMA

1.06

Positive

200DMA

0.96

Positive

Market Momentum

MACD

>-0.01

Negative

RSI

55.21

Neutral

STOCH

100.00

Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MPH, the sentiment is Positive. The current price of 1.15 is above the 20-day moving average (MA) of 1.11, below the 50-day MA of 1.17, and above the 200-day MA of 0.96, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.21 is Neutral, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MPH.

Medicure Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPH	53 Neutral	C$12.00M	―	-7.15%	―	10.84%	48.57%
Sector *	51 Neutral	$7.85B	-0.18	-40.01%	2.28%	22.97%	-2.05%
THTX	―	$149.97M	―		―	―	―
MDP	60 Neutral	C$98.39M	74.21	1.88%	―	0.03%	-17.30%
CTX	54 Neutral	C$8.96M	―	-8.12%	―	20.33%	53.93%
RVV	46 Neutral	C$8.37M	―	-50.76%	―	―	15.79%
MVMD	35 Underperform	C$5.29M	―	-132.79%	―	-46.59%	9.48%

* Healthcare Sector Average

Performance Comparison

TSE:MPH

Medicure

1.15

0.13

12.75%

THTX

Theratechnologies

3.24

1.96

153.13%

TSE:CTX

Crescita Therpeutc

0.46

-0.20

-30.30%

TSE:MVMD

Mountain Valley MD

0.02

-0.02

-50.00%

TSE:MDP

Medexus Pharmaceuticals Inc

3.05

0.60

24.49%

TSE:RVV

Revive Therapeutics

0.02

0.00

0.00%

Medicure Corporate Events

M&A TransactionsBusiness Operations and Strategy

Medicure Completes Acquisition of West Olympia Pharmacy

Positive

Jun 17, 2025

Medicure Inc. has completed the acquisition of West Olympia Pharmacy, aligning with its strategic plan to expand its direct-to-consumer pharmacy business. This acquisition, along with the previous acquisition of Gateway Medical Pharmacy, is expected to add approximately $10 million in additional annual net revenue, enhancing the company’s pharmacy business and strengthening sales of its marketed products.

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 28, 2025