Target prices!!With the target moved from 1.60 to 2.95 this is looking more like a value play off course risk exists but it is limited after yesterdays news!!!!!!!!!!Plus we keep hearing about a posible partner in most of medicures recent news releases maybe we will hear something on that soon!Then again if a partner is willing to put up money the risk of this venture would drop once again!!!!!!
2003-01-15 04:24 PT - In the News
The Globe and Mail reports in its Wednesday, Jan. 15, edition that Medicure hit a 52-week high in hectic trading Tuesday after the company posted better-than-expected clinical test results with its flagship heart drug. The Globe's Leonard Zehr writes that phase II results prompted Research Capital analyst Andre Uddin to raise his 12-month target price for the stock to $2.95 from $1.60. Medicure shares rose 11 cents to close at 70 cents after reaching a new high of 77 cents on the Toronto Stock Exchange Tuesday. Medicure said its MC-1 drug was effective in reducing damage to the heart, from stopping and restarting the flow of blood during an angioplasty procedure to reopening clogged arteries in patients with acute heart disease. Medicure said the heart-protective drug also helped improve cardiac function as measured by electrocardiographs and release of certain heart enzymes. As a result, Medicure and the Duke Clinical Research Institute plan to proceed with a large pivotal late-stage trial testing the drug. Medicure will need to strike a partnership deal with a pharmaceutical company to finance the $46-million-plus cost of the trial, reports The Globe.
Top