Profound Medical (TSE:PRN) Releases Quarterly Earnings Results

Profound Medical (TSE:PRN) issued its quarterly earnings data on Thursday. The company reported C($0.37) earnings per share (EPS) for the quarter, reports. Profound Medical had a negative net margin of 206.94% and a negative return on equity of 78.75%. The business had revenue of C$3.53 million for the quarter.

Profound Medical Stock Down 7.2%

Profound Medical stock traded down C$0.80 during midday trading on Friday, reaching C$10.30. The company’s stock had a trading volume of 26,714 shares, compared to its average volume of 16,133. The stock’s 50-day simple moving average is C$9.83 and its 200-day simple moving average is C$9.41. The company has a debt-to-equity ratio of 12.56, a current ratio of 6.56 and a quick ratio of 14.98. Profound Medical has a 52-week low of C$5.23 and a 52-week high of C$12.40. The stock has a market capitalization of C$374.28 million, a P/E ratio of -8.31 and a beta of 1.30.

Analysts Set New Price Targets

Separately, Raymond James Financial upgraded Profound Medical from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Eight analysts have rated the stock with a Buy rating, fourteen have given a Moderate Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Profound Medical currently has an average rating of “Moderate Buy” and an average price target of C$10.30.

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.