Lake Street has revised its price target for Profound Medical (PROF, Financial), bringing it down to $11 from the previous $17 while maintaining a Buy rating on the stock. This adjustment comes on the eve of the release of pivotal data from the CAPTAIN study, which is noted as the inaugural Level 1 study to compare two treatment methods in prostate cancer. The findings will be unveiled at the American Urological Association meeting later this week.
Additionally, Profound Medical is set to conduct an investor event during the conference next Monday, aiming to provide further insights into the study's outcomes. Despite expectations that both the release and the investor engagement will be positively received by stakeholders and insurance providers, the price target adjustment reflects a response to recent market volatility and a decrease in comparable group valuations, which has led Lake Street to adjust its revenue multiple for Profound.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Profound Medical Corp (PROF, Financial) is $14.38 with a high estimate of $17.00 and a low estimate of $11.50. The average target implies an upside of 207.82% from the current price of $4.67. More detailed estimate data can be found on the Profound Medical Corp (PROF) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Profound Medical Corp's (PROF, Financial) average brokerage recommendation is currently 1.4, indicating "Buy" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Profound Medical Corp (PROF, Financial) in one year is $12.68, suggesting a upside of 171.52% from the current price of $4.67. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Profound Medical Corp (PROF) Summary page.
