Medicure Inc (TSE:MPH)
:MPH
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Medicure
(MPH)
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Rating:43Neutral
Price Target:
C$1.00
▼(-20.00% Downside)
Action:Reiterated
Date:05/23/26
The score is held down primarily by weak financial performance—margin compression, sizable losses, and negative operating/free cash flow—despite some revenue growth and low leverage. Technicals also lean bearish with the stock below major moving averages, while valuation is constrained by a negative P/E and no stated dividend support.
Positive Factors
Low leverage
A very low debt load and minimal total debt materially reduce near-term refinancing and interest-rate risk. This conservative capital structure preserves strategic optionality for funding R&D or commercialization, and lowers bankruptcy risk while the company works to restore profitability.
Negative Factors
Negative profitability
Material net losses are eroding shareholder value and limit reinvestment capacity. Persistent negative profitability forces dependence on cash reserves or external financing, constraining long-term R&D, commercialization scale-up, and strategic flexibility if not reversed.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
A very low debt load and minimal total debt materially reduce near-term refinancing and interest-rate risk. This conservative capital structure preserves strategic optionality for funding R&D or commercialization, and lowers bankruptcy risk while the company works to restore profitability.
Read all positive factors
Medicure (MPH) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$11.27M
Dividend YieldN/A
Average Volume (3M)1.72K
Price to Earnings (P/E)―
Beta (1Y)1.50
Revenue Growth44.34%
EPS Growth-281.74%
CountryCA
Employees25
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.65
Shares Outstanding10,436,313
10 Day Avg. Volume717
30 Day Avg. Volume1,717
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.92
Price to Sales (P/S)0.41
P/FCF Ratio-21.25
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 primarily makes money by commercializing prescription pharmaceutical products, generating revenue from sales of the products it markets and distributes. Its revenue model typically includes (i) product sales to customers in the healthcare...
Medicure Earnings Call Summary
Earnings Call Date:Apr 25, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Aug 26, 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
28
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.86M | 21.91M | 21.69M | 23.07M | 21.74M |
| Gross Profit | 11.25M | 13.09M | 13.99M | 16.07M | 12.71M |
| EBITDA | -4.24M | 1.54M | 1.27M | 3.44M | 2.39M |
| Net Income | -7.10M | -1.04M | -922.00K | 1.36M | -727.00K |
Balance Sheet | |||||
| Total Assets | 24.95M | 29.68M | 28.06M | 29.90M | 28.41M |
| Cash, Cash Equivalents and Short-Term Investments | 3.83M | 7.19M | 6.37M | 4.86M | 3.69M |
| Total Debt | 891.00K | 874.00K | 544.00K | 849.00K | 1.17M |
| Total Liabilities | 12.04M | 8.90M | 8.16M | 8.89M | 10.00M |
| Stockholders Equity | 12.91M | 20.78M | 19.90M | 21.00M | 18.41M |
Cash Flow | |||||
| Free Cash Flow | -560.00K | 638.00K | 1.81M | 1.52M | 3.17M |
| Operating Cash Flow | -560.00K | 1.38M | 2.08M | 1.83M | 3.99M |
| Investing Cash Flow | -2.04M | -739.00K | -270.00K | -310.00K | -2.69M |
| Financing Cash Flow | -415.00K | -370.00K | -297.00K | -355.00K | -316.00K |
Medicure Technical Analysis
Negative
1.25
Price Trends
1.15
Negative
1.13
Negative
1.15
Negative
Market Momentum
-0.01
Positive
44.06
Neutral
27.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MPH, the sentiment is Negative. The current price of 1.25 is above the 20-day moving average (MA) of 1.13, above the 50-day MA of 1.15, and above the 200-day MA of 1.15, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 44.06 is Neutral, neither overbought nor oversold. The STOCH value of 27.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
66 Neutral | C$126.29M | -334.24 | -0.52% | ― | -7.44% | -108.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | C$24.66M | -3.43 | -461.32% | ― | 83.87% | -72.88% | |
43 Neutral | C$11.27M | -1.66 | -18.39% | ― | 44.34% | -281.74% | |
39 Underperform | C$2.01M | -4.28 | 16.08% | ― | ― | -5.26% | |
38 Underperform | C$663.17K | -1.01 | 9.47% | ― | 122.30% | 75.74% | |
| ― | C$420.72K | -0.14 | ― | ― | ― | ― |
* Healthcare Sector Average
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Medicure
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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.