The Globe and Mail reports in its Thursday, Jan. 9, edition that Raymond James analyst Michael Freeman has elevated his recommendation for Medexus Pharmaceuticals to "strong buy" from "outperform" with an unchanged share target of $4. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $4.59. Mr. Freeman says in a note: "Given our increasing confidence in treosulfan's FDA approval in late January and our conviction in significant pent-up demand for the drug in the U.S., we escalate our rating to SB1 (was OP2) and add Medexus Pharmaceuticals to our [Analyst Current Favourites] list. We maintain our [share price target] as we do not yet incorporate U.S. sales of treosulfan in our model, but our scenario analysis shows the potential for Medexus Pharmaceuticals' share price to surpass $21 in three to four years' time assuming treo's approval and a strong sales ramp." The Globe reported on Aug. 23 that Stifel analyst Justin Keywood had reiterated his "buy" recommendation for Medexus Pharmaceuticals. It was then worth $2.41. The Globe reported on Oct. 1 that Leede Financial analyst Douglas Loe rated Medexus "speculative buy." It was then worth $2.65.