Medicure Inc (TSE:MPH)
:MPH
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Medicure
(MPH)
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Rating:54Neutral
Price Target:
C$1.00
▼(-20.00% Downside)
Action:ReiteratedDate:01/13/26
The score is held back primarily by ongoing losses and margin compression despite improving revenue growth. A low-debt balance sheet and positive free cash flow provide support, while technicals are neutral-to-soft and valuation is constrained by negative earnings and no dividend yield data.
Positive Factors
Revenue Growth Trajectory
Sustained TTM revenue growth (~13% to ~$26.2M) signals improving market traction for core products and deeper hospital uptake. Over a 2–6 month horizon this trend supports scaling fixed-cost absorption, funding incremental R&D, and strengthening commercial leverage.
Negative Factors
Ongoing Net Losses
A persistent TTM net margin around -13.1% reflects ongoing unprofitability. Over months this erodes retained earnings, limits reinvestment capacity, and increases the probability management must seek external capital, which can dilute shareholders or constrain strategy.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Trajectory
Sustained TTM revenue growth (~13% to ~$26.2M) signals improving market traction for core products and deeper hospital uptake. Over a 2–6 month horizon this trend supports scaling fixed-cost absorption, funding incremental R&D, and strengthening commercial leverage.
Read all positive factors
Medicure (MPH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$12.73M
Dividend YieldN/A
Average Volume (3M)1.72K
Price to Earnings (P/E)―
Beta (1Y)1.36
Revenue Growth24.30%
EPS Growth-68.60%
CountryCA
Employees25
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.13
Shares Outstanding10,436,313
10 Day Avg. Volume717
30 Day Avg. Volume1,717
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)0.44
Price to Sales (P/S)0.42
P/FCF Ratio14.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Medicure Business Overview & Revenue Model
Company Description
Medicure 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 gl...
How the Company Makes Money
Medicure generates revenue primarily through the sales of its pharmaceutical products, including Aggrastat, which is marketed to hospitals and healthcare providers. The company earns income from product sales, which are driven by prescription volu...
Medicure Earnings Call Summary
Earnings Call Date:Apr 25, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Apr 22, 2026
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.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.
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.
Read all updates
Q4-2024 Updates
Positive
Negative
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.
Read all positive updates
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
Income Statement
45
Neutral
Balance Sheet
73
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.21M | 21.91M | 21.69M | 23.07M | 21.74M | 11.61M |
| Gross Profit | 12.49M | 13.09M | 13.99M | 16.07M | 12.71M | 5.13M |
| EBITDA | 1.38M | 1.54M | 1.27M | 3.44M | 2.39M | -4.04M |
| Net Income | -3.43M | -1.04M | -922.00K | 1.36M | -727.00K | -6.84M |
Balance Sheet | ||||||
| Total Assets | 26.72M | 29.68M | 28.06M | 29.90M | 28.41M | 34.05M |
| Cash, Cash Equivalents and Short-Term Investments | 4.12M | 7.19M | 6.37M | 4.86M | 3.69M | 2.72M |
| Total Debt | 1.00M | 874.00K | 544.00K | 849.00K | 1.17M | 1.45M |
| Total Liabilities | 9.41M | 8.90M | 8.16M | 8.89M | 10.00M | 14.91M |
| Stockholders Equity | 17.31M | 20.78M | 19.90M | 21.00M | 18.41M | 19.15M |
Cash Flow | ||||||
| Free Cash Flow | 1.27M | 638.00K | 1.81M | 1.52M | 3.17M | -2.24M |
| Operating Cash Flow | 1.72M | 1.38M | 2.08M | 1.83M | 3.99M | -2.24M |
| Investing Cash Flow | -2.63M | -739.00K | -270.00K | -310.00K | -2.69M | -7.24M |
| Financing Cash Flow | -424.00K | -370.00K | -297.00K | -355.00K | -316.00K | -766.00K |
Medicure Technical Analysis
Positive
1.25
Price Trends
1.10
Positive
1.16
Positive
1.15
Positive
Market Momentum
0.03
Negative
70.29
Negative
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 1.25 is above the 20-day moving average (MA) of 1.05, above the 50-day MA of 1.10, and above the 200-day MA of 1.15, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 70.29 is Negative, 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | C$115.96M | 294.90 | 0.87% | ― | 2.14% | -83.06% | |
54 Neutral | C$12.73M | -2.12 | -18.39% | ― | 24.30% | -68.60% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | C$24.66M | -1.56 | -461.32% | ― | -46.59% | 8.26% | |
39 Underperform | C$1.08M | -3.51 | 16.08% | ― | ― | 98.93% | |
38 Underperform | C$663.17K | 0.45 | 9.47% | ― | 122.30% | 75.74% | |
| ― | C$420.72K | -0.31 | ― | ― | ― | ― |
* Healthcare Sector Average
TSE:MPH
Medicure
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67.12%
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Medicure Corporate Events
Business Operations and StrategyFinancial Disclosures
Medicure Sees Revenue Growth Amidst Challenges in Q3 2025
Neutral
Nov 19, 2025
Medicure reported a significant increase in total net revenue for the quarter ended September 30, 2025, reaching $8.2 million compared to $5.2 million in the same period the previous year. Despite a decrease in AGGRASTAT® sales due to generic...
Financial Disclosures
Medicure Inc. to Announce Q3 2025 Financial Results
Neutral
Nov 13, 2025
Medicure Inc. announced it will present its financial results for the quarter ended September 30, 2025, via a conference call on November 20, 2025. This announcement is significant for stakeholders as it provides insights into the company’s ...
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.