Profound Medical (NASDAQ:PROF) Stock Rating Upgraded by Raymond James Financial

Key Points

• Raymond James upgraded Profound Medical to “strong buy” from “outperform” and set an $11 price target, implying approximately 49% upside from the reported $7.37 share price.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a consensus “Moderate Buy” rating and an $11.50 average target, while Weiss Ratings separately downgraded the stock to “sell.”
• Profound Medical exceeded quarterly expectations, reporting an adjusted loss of $0.19 per share versus the expected $0.24 loss and revenue of $5.34 million versus the $4.85 million estimate; however, the company remains unprofitable with a negative net margin of 206.76%.

Profound Medical (NASDAQ:PROF - Get Free Report) was upgraded by equities research analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a research report issued on Monday, MarketBeat reports. The firm presently has a $11.00 price target on the stock. Raymond James Financial's price objective points to a potential upside of 49.33% from the company's current price.

Separately, Weiss Ratings downgraded shares of Profound Medical from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

Profound Medical Trading Up 1.5%

NASDAQ PROF traded up $0.11 during trading on Monday, reaching $7.37. The company's stock had a trading volume of 316,997 shares, compared to its average volume of 157,954. The business has a 50-day moving average price of $6.82 and a 200-day moving average price of $6.84. Profound Medical has a 1-year low of $3.76 and a 1-year high of $8.95. The stock has a market capitalization of $267.68 million, a PE ratio of -5.91 and a beta of 0.73.

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

Institutional Investors Weigh In On Profound Medical

Several institutional investors have recently modified their holdings of the business. Penbrook Management LLC bought a new stake in Profound Medical in the first quarter valued at about $80,000. Goldman Sachs Group Inc. grew its holdings in Profound Medical by 56.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 18,727 shares of the company's stock valued at $147,000 after purchasing an additional 6,787 shares during the period. Corsair Capital Management L.P. bought a new stake in Profound Medical in the fourth quarter valued at approximately $208,000. Millennium Management LLC bought a new position in shares of Profound Medical during the fourth quarter worth $211,000. Finally, HB Wealth Management LLC bought a new position in shares of Profound Medical during the first quarter worth $194,000. Institutional investors and hedge funds own 47.86% of the company's stock.

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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