Mackie sets $10.50 PT for Medexus Pharma after reverse split

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Mackie Research Capital established a price target of $10.50 for Medexus Pharmaceuticals (TSXV:MDP) following a 15-for-one reverse stock slated for completion on Dec. 19.

Medexus, formerly Pediapharm (TSXV:PDP) also announced that Ken d'Entremont, who joined the company following Pediapharm’s acquisition of Medexus, has been appointed as CEO of the new firm.

Analyst André Uddin writes that Mr. d’Entremont has more than 30 years of pharma industry experience where he held various executive positions with Sanofi Canada.

Medexus/Pediapharm announced last week that it had fully repaid convertible debentures issued in 2015 for $5.7-million. In light of the two developments, Mr. Uddin said he is revising net income and EPS estimates through 2023.

Abby Hardy