Lake Street Capital Cuts Profound Medical (NASDAQ:PROF) Price Target to $11.00

Profound Medical (NASDAQ:PROF) had its price objective decreased by Lake Street Capital from $17.00 to $11.00 in a research report sent to investors on Wednesday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Profound Medical Price Performance

Shares of NASDAQ PROF opened at $4.76 on Wednesday. Profound Medical has a twelve month low of $3.90 and a twelve month high of $11.42. The company has a market cap of $142.99 million, a PE ratio of -3.55 and a beta of 0.68. The business’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $6.92. The company has a quick ratio of 5.16, a current ratio of 6.12 and a debt-to-equity ratio of 0.11.

Profound Medical (NASDAQ:PROF) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.11. Profound Medical had a negative return on equity of 85.22% and a negative net margin of 349.41%. The business had revenue of $4.18 million for the quarter, compared to analysts’ expectations of $5.92 million. On average, analysts predict that Profound Medical will post -1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Profound Medical during the fourth quarter worth approximately $114,000. MTM Investment Management LLC lifted its holdings in Profound Medical by 10.4% during the 4th quarter. MTM Investment Management LLC now owns 18,575 shares of the company’s stock worth $139,000 after purchasing an additional 1,750 shares during the last quarter. Marshall Wace LLP boosted its stake in Profound Medical by 201.6% in the 4th quarter. Marshall Wace LLP now owns 36,216 shares of the company’s stock valued at $272,000 after purchasing an additional 24,208 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in Profound Medical by 94.9% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 46,200 shares of the company’s stock valued at $346,000 after buying an additional 22,500 shares in the last quarter. Finally, Truist Financial Corp bought a new position in Profound Medical during the 4th quarter worth $376,000. Institutional investors and hedge funds own 47.86% 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.