Profound Medical (TSE:PRN) Stock Jumps 20.6% – Still a Buy?

Profound Medical Corp. (TSE:PRN) rose 20.6% during mid-day trading on Thursday. The stock traded as high as C$9.85 and last traded at C$9.84. 64,056 shares were traded during mid-day trading, an increase of 312% from the average daily volume of 15,537 shares. The stock had previously closed at C$8.16.

Analysts Set New Price Targets

Separately, Raymond James Financial raised Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating, nineteen have given a Moderate Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$9.83.

Profound Medical Stock Performance

The firm has a 50-day moving average of C$9.17 and a two-hundred day moving average of C$9.33. The company has a quick ratio of 14.98, a current ratio of 6.46 and a debt-to-equity ratio of 14.82. The company has a market capitalization of C$359.19 million, a PE ratio of -9.93 and a beta of 1.50.

Profound Medical (TSE:PRN) last posted its quarterly earnings data on Thursday, August 6th. The company reported C($0.37) EPS for the quarter. The business had revenue of C$3.53 million during the quarter. Profound Medical had a negative net margin of 170.92% and a negative return on equity of 62.45%. Research analysts anticipate that Profound Medical Corp. will post -1.90 EPS for the current year.

Insider Transactions at Profound Medical

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

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.