Profound Medical (TSE:PRN) Shares Climb 1.5% – Time to Buy?

Shares of Profound Medical Corp. (TSE:PRN) rose 1.5% during mid-day trading on Thursday. The stock traded as high as C$8.31 and last traded at C$8.21. Approximately 1,927 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 15,450 shares. The stock had previously closed at C$8.09.

Wall Street Analyst Weigh In

Separately, Raymond James Financial raised Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat, Profound Medical presently has an average rating of “Moderate Buy” and an average price target of C$8.21.

Profound Medical Price Performance

The company has a debt-to-equity ratio of 14.82, a quick ratio of 14.98 and a current ratio of 6.46. The firm has a market capitalization of C$299.99 million, a P/E ratio of -8.29 and a beta of 1.50. The stock’s 50 day simple moving average is C$8.73 and its 200 day simple moving average is C$9.29.

Profound Medical (TSE:PRN) last posted its quarterly earnings results on Thursday, August 6th. The company reported C($0.37) 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 during the quarter. As a group, analysts expect that Profound Medical Corp. will post -1.90 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.