MGC Pharmaceuticals Ltd 68.8% potential upside indicated by Canaccord Genuity

MGC Pharmaceuticals Ltd with ticker (LON:MXC) now has a potential upside of 68.8% according to Canaccord Genuity.



Canaccord Genuity set a target price of 7 GBX for the company, which when compared to the MGC Pharmaceuticals Ltd share price of 2 GBX at opening today (12/01/2022) indicates a potential upside of 68.8%. Trading has ranged between 2 (52 week low) and 9 (52 week high) with an average of 8,182,597 shares exchanging hands daily. The market capitalisation at the time of writing is £109,076,125.

MGC Pharmaceuticals Limited is an Australia-based biopharma company. The Company is primarily focused on producing standardized, phytocannabinoid and plant-derived medicines. The Company’s Nature to Medicine strategy comprises the entire supply chain, from botanical research, to develop new strains of Cannabis Sativa, preclinical and clinical research, product manufacturing, distribution, as well as the development of drug delivery systems. The Group has also completed a Phase II double-blind, randomized, placebo controlled clinical trial in Israel and India, to evaluate the safety and efficacy of a natural anti-inflammatory based formulation ArtemiC on patients diagnosed with Corona Virus Disease 2019 (COVID-19).