Profound Medical (TSE:PRN) Reaches New 52-Week Low – Here’s Why

Profound Medical Corp. (TSE:PRN) hit a new 52-week low on Monday . The company traded as low as C$8.66 and last traded at C$9.34, with a volume of 1674 shares changing hands. The stock had previously closed at C$9.28.

Analysts Set New Price Targets

Separately, Raymond James raised Profound Medical to a “strong-buy” rating in a research report on Saturday, November 9th.

Profound Medical Stock Down 4.7 %

The company has a quick ratio of 14.98, a current ratio of 8.61 and a debt-to-equity ratio of 16.95. The company has a fifty day simple moving average of C$10.56 and a 200 day simple moving average of C$11.32. The firm has a market capitalization of C$216.40 million, a P/E ratio of -5.33 and a beta of 0.81.

Profound Medical (TSE:PRN) last announced its quarterly earnings data on Thursday, November 7th. The company reported C($0.52) EPS for the quarter, missing the consensus estimate of C($0.42) by C($0.10). During the same quarter in the prior year, the firm earned ($0.35) EPS. On average, equities analysts expect that Profound Medical Corp. will post -1.9000001 EPS for the current fiscal year.

Insider Buying and Selling

In other Profound Medical news, Director Arun Menawat Dr. acquired 20,000 shares of Profound Medical stock in a transaction that occurred on Tuesday, December 10th. The stock was bought at an average cost of C$10.65 per share, for a total transaction of C$213,000.00. Also, Senior Officer Thomas Michael Tamberrino bought 13,333 shares of the stock in a transaction on Tuesday, December 10th. The shares were bought at an average price of C$10.65 per share, for a total transaction of C$141,996.45. 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.