Profound Medical (TSE:PRN) Stock Price Up 1.5% – Still a Buy?

Profound Medical Corp. (TSE:PRN)’s stock price shot up 1.5% during trading on Thursday. The company traded as high as C$8.31 and last traded at C$8.21. Approximately 1,927 shares traded hands during trading, a decline of 88% from the average daily volume of 15,450 shares. The stock had previously closed at C$8.09.

Analyst Ratings Changes

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

Profound Medical Stock Performance

The stock’s 50-day moving average is C$8.73 and its 200-day moving average is C$9.28. 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 has a market cap of C$335.44 million, a price-to-earnings ratio of -9.27 and a beta of 1.50.

Profound Medical (TSE:PRN) last released its quarterly earnings data on Thursday, August 6th. The company reported C($0.37) EPS for the quarter. The company 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%. On average, analysts expect that Profound Medical Corp. will post -1.90 EPS for the current year.

Insider Transactions at Profound Medical

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

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.