Profound Medical (TSE:PRN) Hits New 52-Week Low – What’s Next?

Profound Medical Corp. (TSE:PRN)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as C$8.23 and last traded at C$8.23, with a volume of 2578 shares changing hands. The stock had previously closed at C$8.55.

Analysts Set New Price Targets

Separately, Raymond James upgraded shares of Profound Medical to a “strong-buy” rating in a research note on Saturday, November 9th.

Profound Medical Price Performance

The stock has a fifty day moving average of C$10.17 and a 200-day moving average of C$11.07. The firm has a market capitalization of C$218.36 million, a P/E ratio of -5.37 and a beta of 0.81. The company has a quick ratio of 14.98, a current ratio of 8.61 and a debt-to-equity ratio of 16.95.

Insiders Place Their Bets

In other news, Director Arun Menawat Dr. purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired 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 purchased 13,333 shares of Profound Medical stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of C$10.65 per share, for a total transaction of C$141,996.45. 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.