In a report released yesterday, Jason McCarthy from Maxim Group reiterated a Buy rating on Medicus Pharma Ltd, with a price target of $20.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Medicus Pharma Ltd’s promising prospects. The company’s innovative approach in treating nodular basal cell carcinoma (BCC) using a dissolvable microneedle patch to deliver doxorubicin has shown significant promise. Interim results from their Phase 2 trial indicated a complete response rate of over 60%, which is notably higher than the expected 20-30% threshold, suggesting a strong potential for success compared to traditional treatments like Moh’s surgery.
Furthermore, the positive feedback from the FDA’s Type C meeting has provided Medicus Pharma with a clear regulatory path forward, including support for a 505(b)(2) pathway. The FDA’s alignment on trial design and constructive guidance on optimizing the microneedle device further bolster the company’s position. With the trial expansion to 90 patients and expected completion of enrollment by the end of 2025, followed by an end-of-Phase 2 meeting in early 2026, Medicus Pharma is well-positioned for future developments and potential market success.
According to TipRanks, McCarthy is an analyst with an average return of -17.7% and a 31.66% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as OS Therapies Incorporated, Medicus Pharma Ltd, and Atossa Therapeutics.
In another report released on September 24, Brookline Capital Markets also maintained a Buy rating on the stock with a $20.00 price target.