Profound Medical Corp. (NASDAQ:PROF) Receives $31.42 Average Target Price from Analysts


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Shares of Profound Medical Corp. (NASDAQ:PROF) have received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $31.42.

PROF has been the subject of a number of analyst reports. Alliance Global Partners raised their price objective on Profound Medical from $20.25 to $28.25 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Leede Jones Gab restated a “buy” rating on shares of Profound Medical in a research report on Thursday, March 4th. Zacks Investment Research upgraded Profound Medical from a “sell” rating to a “hold” rating in a research report on Tuesday, March 2nd. Raymond James restated a “strong-buy” rating and set a $34.00 price objective on shares of Profound Medical in a research report on Monday, March 29th. Finally, Lake Street Capital lifted their target price on Profound Medical from $27.00 to $32.00 in a report on Monday, January 25th.

Shares of PROF stock traded down $0.11 during mid-day trading on Wednesday, reaching $20.06. 46,521 shares of the stock traded hands, compared to its average volume of 83,207. The stock’s fifty day simple moving average is $21.32 and its two-hundred day simple moving average is $21.46. Profound Medical has a 1-year low of $11.06 and a 1-year high of $28.97. The company has a market cap of $407.02 million, a price-to-earnings ratio of -17.02 and a beta of 1.45.

Profound Medical (NASDAQ:PROF) last issued its quarterly earnings data on Tuesday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.11). Profound Medical had a negative return on equity of 33.69% and a negative net margin of 275.12%. The company had revenue of $2.88 million for the quarter, compared to the consensus estimate of $3.03 million. Equities research analysts expect that Profound Medical will post -1.14 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PROF. BlackRock Inc. bought a new stake in Profound Medical in the third quarter worth approximately $36,000. Navis Wealth Advisors LLC bought a new stake in shares of Profound Medical during the fourth quarter valued at approximately $49,000. SOA Wealth Advisors LLC. bought a new stake in shares of Profound Medical during the fourth quarter valued at approximately $109,000. Captrust Financial Advisors bought a new stake in shares of Profound Medical during the fourth quarter valued at approximately $125,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Profound Medical during the fourth quarter valued at approximately $310,000. Institutional investors and hedge funds own 35.90% of the company’s stock.

About Profound Medical

Profound Medical Corp., together with its subsidiaries, operates as a medical technology company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland. Its lead product TULSA-PRO system used for magnetic resonance imaging scanner in hospitals and treatment facilities.

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Analyst Recommendations for Profound Medical (NASDAQ:PROF)

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