Profound Medical (NASDAQ:PROF) Shares Up 1.6% - What's Next?

Key Points

• Profound Medical shares rose 1.6% on Monday, trading as high as $7.22 on volume above average, with 89,894 shares changing hands versus a typical 71,995.
• Weiss Ratings downgraded the stock less severely, moving it from a “sell (e+)” to a “sell (d-)” rating. Overall, the stock still carries a consensus Hold rating with a $12.00 average target price.
• Recent earnings topped expectations: the company reported a smaller-than-expected loss and revenue of $5.34 million, above analyst estimates. Analysts still expect Profound Medical to post a loss of $0.88 per share for the full year.

Profound Medical (NASDAQ:PROF - Get Free Report)'s share price shot up 1.6% during trading on Monday . The stock traded as high as $7.22 and last traded at $7.15. 89,894 shares were traded during trading, an increase of 25% from the average session volume of 71,995 shares. The stock had previously closed at $7.04.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Profound Medical from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Profound Medical presently has a consensus rating of "Hold" and an average target price of $12.00.

Profound Medical Stock Up 1.6%

The company's fifty day moving average price is $6.86 and its 200-day moving average price is $6.88. The stock has a market capitalization of $259.83 million, a PE ratio of -5.77 and a beta of 0.73.

Profound Medical (NASDAQ:PROF - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.05. Profound Medical had a negative return on equity of 78.88% and a negative net margin of 206.76%.The firm had revenue of $5.34 million for the quarter, compared to analysts' expectations of $4.85 million. Equities research analysts anticipate that Profound Medical will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Profound Medical

Hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd raised its holdings in Profound Medical by 16.7% in the 4th quarter. FIL Ltd now owns 2,200,000 shares of the company's stock worth $17,270,000 after acquiring an additional 315,000 shares during the last quarter. Gagnon Securities LLC lifted its holdings in shares of Profound Medical by 12.2% during the fourth quarter. Gagnon Securities LLC now owns 1,944,061 shares of the company's stock valued at $15,300,000 after purchasing an additional 211,021 shares in the last quarter. Rosalind Advisors Inc. lifted its holdings in shares of Profound Medical by 54.4% during the fourth quarter. Rosalind Advisors Inc. now owns 1,068,955 shares of the company's stock valued at $8,413,000 after purchasing an additional 376,770 shares in the last quarter. Royce & Associates LP boosted its position in shares of Profound Medical by 15.2% during the fourth quarter. Royce & Associates LP now owns 990,348 shares of the company's stock valued at $7,771,000 after buying an additional 130,442 shares during the last quarter. Finally, Gagnon Advisors LLC boosted its position in shares of Profound Medical by 7.3% during the fourth quarter. Gagnon Advisors LLC now owns 962,186 shares of the company's stock valued at $7,572,000 after buying an additional 65,515 shares during the last quarter. 47.86% of the stock is owned by institutional investors.

Profound Medical Company Profile

Profound Medical Corp is a medical technology company headquartered in Toronto, Canada, that specializes in the development and commercialization of minimally invasive therapeutic solutions using magnetic resonance–guided ultrasound ablation. The company's proprietary platform delivers focused ultrasound energy to targeted tissue under real-time MR imaging, offering a non-incisional alternative to traditional surgical approaches.

The company's lead product, the TULSA-PRO system, is designed for the treatment of prostate conditions, including localized prostate cancer and benign prostatic hyperplasia.

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