Profound Medical (TSE:PRN) Shares Break Above 50-Day Moving Average – What’s Next?

Profound Medical Corp. (TSE:PRN)’s share price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of C$8.73 and traded as high as C$9.18. Profound Medical shares last traded at C$9.18, with a volume of 25,086 shares traded.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded shares of Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating, seventeen have given a Moderate Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$9.18.

Profound Medical Stock Performance

The stock has a market capitalization of C$335.44 million, a price-to-earnings ratio of -9.27 and a beta of 1.50. The company has a current ratio of 6.46, a quick ratio of 14.98 and a debt-to-equity ratio of 14.82. The stock’s 50 day moving average is C$8.73 and its two-hundred day moving average is C$9.28.

Profound Medical (TSE:PRN) last released its quarterly earnings results on Thursday, August 6th. The company reported C($0.37) earnings per share (EPS) for the quarter. The firm 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%. Analysts expect that Profound Medical Corp. will post -1.90 earnings per share for the current fiscal year.

Insider Activity at Profound Medical

In other Profound Medical news, insider Richard Ringler Fabian acquired 10,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were bought at an average cost of C$8.31 per share, for a total transaction of C$83,100.00. Following the completion of the acquisition, the insider directly owned 10,000 shares of the company’s stock, valued at approximately C$83,100. This trade represents a ∞ increase in their ownership of the stock. Also, insider Thomas Michael Tamberrino acquired 3,755 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 53,573 shares of the company’s stock, valued at C$505,729.12. This represents a 7.54% increase in their ownership of the stock. 8.62% of the stock is owned by company 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.