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Mackie Research has initiated coverage on Medicure Inc. (TSXV: MPH)

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Analyst Andre Uddin gives the company a speculative buy recommendation and 12-month target of $2.80, a premium of 33% to the $2.10 price on September 26th, the day the report was issued. Medicure is a commercial-stage specialty pharmaceutical company specialized in cardiology.

Additional Information:

Company: Medicure Inc.
Stock Symbol: TSXV: MPH
Date Published: Oct 3, 2014
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch.com

Mackie Research has initiated coverage on Medicure Inc, which trades under the symbol “MPH” on the TSX Venture Exchange.

Analyst Andre Uddin gives the company a speculative buy recommendation and 12-month target of $2.80, a premium of 33% to the $2.10 price on September 26th, the day the report was issued.

Medicure is a commercial-stage specialty pharmaceutical company specialized in cardiology.

Medicure has the exclusive U.S. marketing rights to Aggrastat, which was approved for low dose by the FDA on May 14, 1998 for the treatment of acute coronary syndrome.

On October 11, 2013, the company obtained FDA approval of Aggrastat high-dose bolus.

According to the American Heart Association, there are 1,141,000 annual acute coronary syndrome hospital discharges in the U.S.

Analyst Andre Uddin stated, “There is a potential Aggrastat target population of 724,535 patients per year.”

Medicure also has two early-stage pipeline candidates: a transdermal formulation of Aggrastat being co-developed with 4D Therapeutics, and Taradoxal for tardive dyskinesia, a market with no drugs approved.

On July 3, 2014, Medicure announced it had obtained a 5% equity in Apicore, a private Active Pharmaceutical Ingredients manufacturer, with an option to acquire the company within 3 years.

Acquiring Apicore would diversify Medicure’s revenue base and potentially help the company acquire new hospital-based products.

Mackie Research’s sales estimates of Aggrastat in the U.S. market grow from US$8.4 million in 2015, US$12.8 million in 2016, US$15.0 million in 2017, US$17.1 million in 2018, US$19.2 million in 2019 and US$21.4 million in 2020.

These numbers do not include the potential out licensing or approval of Tardoxal to tardive dyskinesia, nor does it include the Apicore acquisition.

The shares are currently trading at $2.17, below Mackie Research’s target price of $2.80, and with 12.2 million shares outstanding, the company is capitalized at $25.6 million.

For more information, please visit the company’s website www.medicure.com, or contact Dawson Reimer, President & COO at 888-435-2220 or email info@medicure.com.

For more information about Mackie Research or to obtain the report on Medicure contact your nearest Mackie Research office. Their branches are listed on their website at www.mackieresearch.com.

I’m Samantha Deutscher for InvestmentPitch.com
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This video is for information purposes only and it is not a recommendation to buy or sell any securities