Profound Medical (NASDAQ:PROF) Stock Rating Lowered by Wall Street Zen

Profound Medical (NASDAQ:PROF) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently weighed in on the company. Raymond James Financial upgraded Profound Medical from an “outperform” rating to a “strong-buy” rating and set a $11.00 price target for the company in a research report on Monday, July 27th. Weiss Ratings lowered shares of Profound Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.50.

Profound Medical Price Performance

PROF opened at $5.97 on Friday. The stock has a market cap of $218.08 million, a P/E ratio of -6.09 and a beta of 0.72. The stock’s 50 day simple moving average is $7.05 and its 200 day simple moving average is $6.74. Profound Medical has a 1-year low of $3.90 and a 1-year high of $8.95.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $2.48 million for the quarter, compared to analyst estimates of $4.75 million. Profound Medical had a negative return on equity of 63.03% and a negative net margin of 171.57%. Research analysts expect that Profound Medical will post -0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Profound Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Penbrook Management LLC acquired a new stake in Profound Medical during the 1st quarter valued at $80,000. Concurrent Investment Advisors LLC purchased a new position in Profound Medical during the second quarter worth $144,000. Goldman Sachs Group Inc. raised its holdings in shares of Profound Medical by 56.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,727 shares of the company’s stock worth $147,000 after acquiring an additional 6,787 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Profound Medical in the first quarter worth $194,000. Finally, Corsair Capital Management L.P. purchased a new stake in shares of Profound Medical in the fourth quarter valued at $208,000. Hedge funds and other institutional investors 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.