Profound Medical (TSE:PRN) Stock Jumps 20.6% – What’s Next?

Profound Medical Corp. (TSE:PRN)’s stock price shot up 20.6% on Thursday. The stock traded as high as C$9.85 and last traded at C$9.84. 64,056 shares traded hands during trading, an increase of 312% from the average session volume of 15,537 shares. The stock had previously closed at C$8.16.

Analyst Ratings Changes

Separately, Raymond James Financial raised shares of Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating, nineteen have issued a Moderate Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Profound Medical currently has an average rating of “Moderate Buy” and an average price target of C$9.84.

Profound Medical Price Performance

The stock has a market capitalization of C$359.55 million, a PE ratio of -9.94 and a beta of 1.50. The business’s 50-day moving average price is C$9.18 and its 200 day moving average price is C$9.33. The company has a debt-to-equity ratio of 14.82, a quick ratio of 14.98 and a current ratio of 6.46.

Profound Medical (TSE:PRN) last posted its quarterly earnings data on Thursday, August 6th. The company reported C($0.37) earnings per share (EPS) for the quarter. Profound Medical had a negative net margin of 170.92% and a negative return on equity of 62.45%. The business had revenue of C$3.53 million for the quarter. Research analysts forecast that Profound Medical Corp. will post -1.9000001 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Richard Ringler Fabian acquired 10,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were purchased at an average price of C$8.31 per share, for a total transaction of C$83,100.00. Following the transaction, the insider owned 10,000 shares in the company, valued at C$83,100. This represents a ∞ increase in their position. Also, insider Thomas Michael Tamberrino acquired 3,755 shares of the stock in a transaction dated Monday, August 17th. The shares were bought at an average price of C$9.44 per share, for a total transaction of C$35,447.20. Following the transaction, the insider owned 53,573 shares in the company, valued at approximately C$505,729.12. This represents a 7.54% increase in their position. 8.62% of the stock is owned by insiders.

Profound Medical Company Profile

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.