MediPharm Labs Corp. (OTCMKTS:MEDIF)’s stock price dropped 1.9% during mid-day trading on Friday . The stock traded as low as $0.39 and last traded at $0.40. Approximately 202,194 shares changed hands during trading, a decline of 38% from the average daily volume of 325,430 shares. The stock had previously closed at $0.40.
MEDIF has been the subject of several research analyst reports. Roth Capital lowered their price target on shares of MediPharm Labs from $2.00 to $1.00 and set a “buy” rating for the company in a report on Monday, November 16th. Canaccord Genuity reduced their price target on MediPharm Labs from $2.50 to $1.75 and set a “buy” rating on the stock in a research report on Tuesday, November 17th. Finally, Alliance Global Partners initiated coverage on MediPharm Labs in a research report on Monday, November 2nd. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1.56.
The stock has a 50-day moving average price of $0.47 and a 200-day moving average price of $0.72.
About MediPharm Labs (OTCMKTS:MEDIF)
MediPharm Labs Corp., together with its subsidiaries, produces and sells pharmaceutical-grade cannabis oil and concentrates for derivative products in Canada and Australia. It also provides cannabis contract processing services to licensed producers and growers; and tolling services to licensed cultivators in Canada.
Further Reading: Retained Earnings