Profound Medicl (NYSE:PROF) Receives $25.33 Consensus Price Target from Analysts

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Shares of Profound Medicl (NYSE:PROF) have been assigned an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $25.33.

Several analysts have commented on the stock. Raymond James raised their target price on shares of Profound Medicl from $38.00 to $43.00 and gave the stock a “strong-buy” rating in a report on Friday, July 31st. Zacks Investment Research downgraded shares of Profound Medicl from a “hold” rating to a “sell” rating in a report on Tuesday, July 14th. Finally, Alliance Global Partners restated a “buy” rating and set a $18.00 target price (up from $15.00) on shares of Profound Medicl in a report on Friday, August 7th.

NYSE:PROF traded up $0.61 during mid-day trading on Tuesday, reaching $14.84. 63,957 shares of the company were exchanged, compared to its average volume of 75,714. The company has a fifty day moving average of $15.42 and a 200 day moving average of $13.57. Profound Medicl has a 12 month low of $6.24 and a 12 month high of $20.60.

Hedge funds have recently made changes to their positions in the business. UBS Group AG grew its stake in shares of Profound Medicl by 406.4% during the 1st quarter. UBS Group AG now owns 3,545 shares of the company’s stock worth $34,000 after acquiring an additional 2,845 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Profound Medicl during the 2nd quarter worth approximately $54,000. Bank of America Corp DE bought a new position in shares of Profound Medicl during the 4th quarter worth approximately $57,000. Raymond James & Associates bought a new position in shares of Profound Medicl during the 1st quarter worth approximately $100,000. Finally, CIBC World Markets Inc. bought a new position in shares of Profound Medicl during the 1st quarter worth approximately $127,000.

About Profound Medicl

Profound Medical Corp. operates as a medical technology company focuses on magnetic resonance guided ablation procedures in Canada, Germany, and Finland. It is developing a treatment to ablate the prostate gland in prostate cancer patients, treatment of uterine fibroids and nerves, and palliative pain treatment for patients with metastatic bone disease.

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Analyst Recommendations for Profound Medicl (NYSE:PROF)

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