Profound Medical (TSE:PRN) Releases Earnings Results

Profound Medical (TSE:PRN) announced its quarterly earnings data on Thursday. The company reported C($0.30) earnings per share for the quarter, FiscalAI reports. Profound Medical had a negative return on equity of 62.45% and a negative net margin of 170.92%. The firm had revenue of C$13.99 million during the quarter.

Profound Medical Price Performance

Shares of PRN traded up C$0.50 during trading hours on Friday, hitting C$10.14. 48,619 shares of the company were exchanged, compared to its average volume of 15,828. The firm has a fifty day simple moving average of C$8.75 and a 200-day simple moving average of C$9.24. The company has a market capitalization of C$370.52 million, a PE ratio of -10.24 and a beta of 1.40. Profound Medical has a one year low of C$6.52 and a one year high of C$12.40. The company has a debt-to-equity ratio of 14.82, a current ratio of 6.46 and a quick ratio of 14.98.

Insider Buying and Selling

In other news, insider Thomas Michael Tamberrino acquired 3,755 shares of Profound Medical stock in a transaction on Monday, August 17th. The stock was bought at an average price of C$9.44 per share, for a total transaction of C$35,447.20. Following the transaction, the insider 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 acquired 10,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was acquired at an average price of C$8.31 per share, with a total value of C$83,100.00. Following the purchase, the insider owned 10,000 shares in the company, valued at approximately C$83,100. This represents a ∞ increase in their position. 8.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial upgraded shares of Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seventeen have given a Moderate Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Profound Medical has an average rating of “Moderate Buy” and a consensus price target of C$10.14.

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.