Profound Medical (NASDAQ:PROF) Price Target Cut to $12.00

Profound Medical (NASDAQ:PROF – Get Rating) had its price objective dropped by analysts at Alliance Global Partners from $16.25 to $12.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. Alliance Global Partners’ target price points to a potential upside of 73.91% from the company’s current price.

A number of other brokerages have also issued reports on PROF. Zacks Investment Research lowered shares of Profound Medical from a “hold” rating to a “sell” rating in a research report on Saturday, January 22nd. Raymond James set a $22.00 target price on shares of Profound Medical and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Cowen decreased their target price on shares of Profound Medical from $28.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, March 7th.

PROF traded up $0.33 on Tuesday, reaching $6.90. The company had a trading volume of 34,046 shares, compared to its average volume of 54,421. Profound Medical has a fifty-two week low of $6.44 and a fifty-two week high of $19.32. The firm has a market cap of $143.38 million, a PE ratio of -4.38 and a beta of 1.11. The firm’s fifty day simple moving average is $8.52.

Profound Medical (NASDAQ:PROF – Get Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.14). Profound Medical had a negative net margin of 446.65% and a negative return on equity of 34.89%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $2.80 million. During the same quarter last year, the company posted ($0.38) EPS. Sell-side analysts forecast that Profound Medical will post -1.14 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. bought a new stake in shares of Profound Medical during the 4th quarter worth approximately $121,000. Harbor Advisors LLC bought a new stake in shares of Profound Medical during the 4th quarter worth approximately $139,000. CVI Holdings LLC bought a new stake in shares of Profound Medical during the 3rd quarter worth approximately $146,000. Wealth Management Partners LLC bought a new position in Profound Medical in the 1st quarter valued at approximately $230,000. Finally, Millennium Management LLC bought a new position in Profound Medical in the 3rd quarter valued at approximately $426,000. 60.23% of the stock is owned by institutional investors.

About Profound Medical (Get Rating)

Profound Medical Corp., together with its subsidiaries, operates as a commercial-stage medical device company that develops magnetic resonance guided ablation procedures for treatment of prostate disease, uterine fibroids, and palliative pain treatment in Canada, Germany, the United States, and Finland.

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