Profound Medical (TSE:PRN) Stock Price Up 1.5% - Time to Buy?

Key Points

• Profound Medical shares rose 1.5% to C$8.21 in light trading, well below the stock’s 50-day and 200-day moving averages of C$8.73 and C$9.29.
• Analyst sentiment is generally positive: Raymond James upgraded the stock to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with a C$8.21 price target.
• The company remains unprofitable, reporting a quarterly loss of C$0.37 per share, a negative 170.92% net margin and analysts’ projected full-year loss of C$1.90 per share; however, insiders recently purchased shares.

Profound Medical Corp. (TSE:PRN - Get Free Report)'s share price rose 1.5% during mid-day trading on Thursday. The company traded as high as C$8.31 and last traded at C$8.21. Approximately 1,927 shares changed hands during trading, a decline of 88% from the average daily volume of 15,450 shares. The stock had previously closed at C$8.09.

Wall Street Analyst Weigh In

Separately, Raymond James Financial upgraded shares of Profound Medical from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating, seventeen have issued a Moderate Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$8.21.

Profound Medical Stock Performance

The company has a current ratio of 6.46, a quick ratio of 14.98 and a debt-to-equity ratio of 14.82. The firm has a market capitalization of C$299.99 million, a P/E ratio of -8.29 and a beta of 1.50. The business's 50 day simple moving average is C$8.73 and its two-hundred day simple moving average is C$9.29.

Profound Medical (TSE:PRN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C($0.37) earnings per share for the quarter. Profound Medical had a negative return on equity of 62.45% and a negative net margin of 170.92%. The business had revenue of C$3.53 million during the quarter. Sell-side analysts anticipate that Profound Medical Corp. will post -1.90 EPS for the current fiscal year.

Insider Activity at Profound Medical

In other news, insider Thomas Michael Tamberrino bought 3,755 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of C$9.44 per share, for a total transaction of C$35,447.20. Following the purchase, the insider owned 53,573 shares in the company, valued at C$505,729.12. This represents a 7.54% increase in their ownership of the stock. Also, insider Richard Ringler Fabian acquired 10,000 shares of the company's stock in a transaction dated Thursday, September 17th. The stock was acquired at an average cost of C$8.31 per share, with a total value of C$83,100.00. Following the purchase, the insider owned 10,000 shares of the company's stock, valued at approximately C$83,100. This trade represents a ∞ increase in their ownership of the stock. 8.62% of the stock is owned by insiders.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops and markets incision-free therapeutic systems for the image guided ablation of diseased tissue in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system combines magnetic resonance imaging(MRI), robotically-driven transurethral sweeping action/thermal ultrasound and closed-loop temperature feedback control to provide precise, flexible, and durable ablation of a surgeon defined region of prostate and protect the urethra and rectum.

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