ProMetic Life Sciences Inc. (PLI) Given Average Recommendation of “Buy” by Analysts
ProMetic Life Sciences Inc. (TSE:PLI) has earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$3.60.
PLI has been the topic of a number of recent analyst reports. National Bank Financial raised their target price on ProMetic Life Sciences from C$2.00 to C$2.50 in a report on Wednesday. Canaccord Genuity reduced their target price on ProMetic Life Sciences from C$4.75 to C$4.50 and set a “buy” rating on the stock in a report on Monday, June 19th. Scotiabank reduced their target price on ProMetic Life Sciences from C$4.75 to C$4.00 and set an “outperform” rating on the stock in a report on Friday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of ProMetic Life Sciences in a report on Wednesday, May 24th. Finally, TD Securities reduced their target price on ProMetic Life Sciences from C$4.50 to C$3.50 and set a “speculative buy” rating on the stock in a report on Wednesday, August 16th.
Shares of ProMetic Life Sciences (TSE PLI) traded up 12.00% during trading on Wednesday, reaching $1.68. The company’s stock had a trading volume of 4,321,354 shares. The company’s 50 day moving average price is $1.48 and its 200 day moving average price is $1.96. ProMetic Life Sciences has a 12 month low of $1.12 and a 12 month high of $3.24. The firm’s market cap is $1.19 billion.
In other news, Director Dwun-Hou Chen sold 32,321 shares of ProMetic Life Sciences stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of C$1.14, for a total transaction of C$36,845.94. Also, insider Patrick Sartore sold 64,579 shares of ProMetic Life Sciences stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of C$1.15, for a total value of C$74,265.85. In the last 90 days, insiders have acquired 98,250 shares of company stock worth $129,269 and have sold 179,102 shares worth $242,635.
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About ProMetic Life Sciences
Prometic Life Sciences Inc (ProMetic) is a Canada-based biopharmaceutical company. The Company has two segments: Small Molecule Therapeutics and Protein Technology. The Company offers its technology platform for large-scale drug purification of biologics, drug development, proteomics and the elimination of pathogens to various industries, and uses its own affinity technology that provides for extraction and purification of therapeutic proteins from human plasma in order to develop therapeutics and orphan drugs.
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