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I found another source that said his target is $43C so the targets I posted earlier were $US
Headline on Ameritrade news yesterday 5/4 is RJ maintained strong buy and raised target from $34 to $36. Does not say if $C or $US.
Sent the following email to PROF investor relations and copied CEO and ACFO:
Steve,
I have been seeing ads on TV quite often for a new product for BPH which competes with Tulsa Pro. Here is the website for the product:
https://www.urolift.com/
I have been a stockholder for a couple years now and in my opinion Tulsa Pro is a superior solution for BPH and of course also for many prostate cancers. The ads I see are well done and proclaim the procedure is incision free. They show water dripping from a pipe and then a fire hose....I think you can get the message and it would be appealing to someone with BPH. This company is stealing our potential customers who likely don't know about Tulsa Pro and also very likely their urologist doesn't know about it either. They are going to be asking their urologist about urolift, not Tulsa Pro simply because they don't know about Tulsa Pro.
Can you bring this to the attention of management? The adoption of Tulsa Pro seems to be going slower than expected based on the number of installations however I note where it is installed the number of procedures being done exceeds expectations. This tells me the doctors and patients who know about Tulsa Pro and are using it like it and prefer it to other solutions.
I think this says loudly that Profound needs to get the word out to the public on this procedure. An ad campaign is what I am thinking. We can make the same claim that it is incision free and likely other claims. I'm guessing the urolift may eliminate or make difficult other future procedures that may need to be done on a patient because it looks like it embeds a medical device which I'm guessing is metallic although I have not researched it.
Thank you,
I think you're right. It needs to hold that level though around 200 day avg. It does bother me EDAP is doing so much better. EDAP is a competitor using HIFU and is more established. From my understanding our technology is better which should win in the end.
Here is the link to the Journal of Urology article
https://www.auajournals.org/doi/pdf/10.1097/JU.0000000000001362
Contact PROF IR. I contacted them and I know at least one other who did to ask why they are not doing a PR for new installations. Seems like it would help the share price, certainly wouldn't hurt, and I can't think of any reason for them not to do this at least until the company is more mature. It is also free advertising for their service for potential customers.
You can email Stephen Kilmer in IR at skilmer@profoundmedical.com
I found out RJ analyst slightly lowered eps estimates after the last conf call but seemed to keep the price target unchanged. Several other analyst raised the target. Here is the link
https://www.marketbeat.com/instant-alerts/nasdaq-prof-analyst-earnings-estimates-2021-03/
Another new site opened. Like last time, no PR and the stock is down today. I don't know what day this was added to the website but I check most days.
https://tulsaprocedure.com/stanford-medicine-cancer-center/
That is what investor relations told me...yes.
The two interviews I posted a link to are worth watching. Some stuff in there that is new. Here's a short list:
Some private insurance companies paying for the procedure too...I heard this in the conf call but I thought they meant medicare advantage but they mean non medicare insurance. That is huge imo.
CEO says many urologists and patients nervous about surgery because of the risks of side effects of incontinence and ED so they often opt for the watch and wait strategy. He can see this change at some point as using Tulsa carries minimal risk. IMO this creates an expanding market.
CEO says they are introducing something called thermal boost which will allow for ablation of tissue that has expanded into the surrounding muscle for advanced cases.
CFO said one hospital tried to negotiate the price down and they said no and a couple months later the hospital came back and wanted to install a device anyway.
There are actually 2 new webcasts. Cowen on March 3 and Raymond James on Mar 2.
https://profoundmedical.com/investors/#presentations
Two new locations in the last two weeks. Seems like the pace is finally beginning to pick up. Even though this is another trial site it likely still requires the same if not even more effort to get up and going.
I have been wondering if this could be used for pancreatic cancer which is notoriously hard to operate on. They usually even try to operate on pancreatic cancer due to the difficulty and the fact it is usually not diagnosed until advanced.
CMS now paying for procedures at some facilities. The company has estimated that 5% of patients are willing to pay cash. That means 95% of potential patients won't do this unless insurance covers it. So getting CMS coverage drastically increases the potential patient population. So why is it down? I have no clue but I wish the company would PR this instead of just mentioning it in a conf call which most people don't listen to.
MONDAY, MARCH 1, 2021 | MARKETBEAT
Profound Medical Corp. (NASDAQ:PROF) - Raymond James raised their FY2023 earnings per share (EPS) estimates for shares of Profound Medical in a research note issued on Wednesday, February 24th. Raymond James analyst R. Sarugaser now anticipates that the company will post earnings of $1.04 per share for the year, up from their previous estimate of $1.02. Raymond James also issued estimates for Profound Medical's FY2024 earnings at $2.73 EPS.
Several other research analysts have also weighed in on PROF. Zacks Investment Research raised Profound Medical from a "strong sell" rating to a "hold" rating in a research report on Tuesday, November 3rd. Lake Street Capital upped their price target on Profound Medical from $27.00 to $32.00 in a research report on Monday, January 25th. Finally, Alliance Global Partners upped their price target on Profound Medical from $20.25 to $28.25 and gave the company a "buy" rating in a research report on Thursday, January 7th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Profound Medical presently has an average rating of "Buy" and an average price target of $26.45.
Shares of Profound Medical stock opened at $22.03 on Monday. The firm has a market capitalization of $445.20 million, a PE ratio of -18.83 and a beta of 1.45. Profound Medical has a 12-month low of $6.53 and a 12-month high of $28.97. The stock's fifty day moving average is $25.71 and its 200-day moving average is $20.62.
A number of hedge funds have recently modified their holdings of the business. Letko Brosseau & Associates Inc. increased its position in Profound Medical by 1,725.4% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 839,700 shares of the company's stock worth $17,262,000 after purchasing an additional 793,700 shares during the last quarter. Gagnon Securities LLC boosted its stake in shares of Profound Medical by 6.5% during the 3rd quarter. Gagnon Securities LLC now owns 779,533 shares of the company's stock worth $13,751,000 after acquiring an additional 47,818 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of Profound Medical during the 3rd quarter worth about $12,260,000. Blackcrane Capital LLC boosted its stake in shares of Profound Medical by 73.6% during the 4th quarter. Blackcrane Capital LLC now owns 341,767 shares of the company's stock worth $7,029,000 after acquiring an additional 144,843 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Profound Medical by 2,910.0% during the 4th quarter. Royce & Associates LP now owns 301,000 shares of the company's stock worth $6,193,000 after acquiring an additional 291,000 shares in the last quarter. 35.90% of the stock is currently owned by institutional investors.
I agree mostly because getting any insurance coverage is huge. Any insurance coverage, especially from CMS expands the potential patients a lot.
I wish they would have guided on installations by the end of 2021 but after the covid debacle in 2020 I understand. They did say they had signed contracts from this year (pretty sure it was plural) that have not been installed yet and plenty of interest.
Can you tell me where you found the eps estimates? I have an Ameritrade account and could find that the price target was reiterated but couldn't find a report or even summary.
Thanks
They raised revenue guidance for the last quarter. I've never seen a company do that and then miss that number. In fact they usually beat it.
Meanwhile we are down 10 of the last 12 days in a market where the high flyers have been getting sold off. We are also below the lower bollinger band. I think we are oversold at this point and am hoping for a bounce at a minimum
Agreed, they have some highly reputable partners. I think they are behind on installations though. Last year at this time the company was estimating 20 by year end 2020. The analyst was estimating 10. Later in the year the company reduced it's goal to 10. Here we are at the end of Feb 2021 and we have 7 plus one trial site. No doubt covid is a major cause and hopefully that's all there is to it.
I wish they would PR these new installations too. Most investors likely unaware. Would be a good question to submit to their IR department before the next conf call.
New site open. Yale Cancer center. Not sure whey we're not up on this but the market is weak today.
https://tulsaprocedure.com/yale-cancer-center/
I think it was just overbought. It kept riding the upper bollinger band and today it bounced off the lower band. Some progress will be needed to keep this going. No installations in quite a while No updates from RJ that I know of. The better than expected revenues is big though meaning the machines in operation are being used more than anticipated.
I think it has to trade above $1 for 20 consecutive trading days or something like that for nasdaq. I agree above 5 opens it up to more funds. Is there info on the carbon capture on their website? Have not looked yet but that sounds impressive.
Last year it was March 3rd. Looks like we got overbought this morning with the gap up.
I don't mind a reverse split if it's to get listed. I have a large investment in PROF, they have a device for prostate cancer and BPH which I believe will become the standard of care. I started buying it in the 0.50 to 0.60 range. They did a 10 for 1 reverse split and got listed on nasdaq. That was only 18 months ago and now it's 26. There is a stigma attached to it but this would be a good reason to do it.
Today's volume is impressive so this move is real. Since no news we know of I suspect an analyst has started it with a buy and a healthy price objective.
You're convincing me to make this a long term hold. I'll check out the company website for the web cast. I have not given this one much attention yet because I have bigger investments elsewhere.
I think you're right. I got this idea from a service I pay for a couple months ago so the word is starting to get around. My service's objective was 1.25 to 1.50 or higher. It was around 0.60 at the time. Thanks for the ideas.
Thanks! I saw that but it was almost 2 weeks ago so thought there might be a new development. I wish more details were available on these agreements.
New investor here. Bought in at 0.61. Any idea why it's up so much today. News is hard to find on this one.
Thanks
Good advice on making a comment to the article.
I can't find the Dec 24th report either. We need a Raymond James customer here. I'll check with a broker friend.
I have not been able to find an RJ udpate. Can you tell on ETrade if one has come out?
Yes that is correct, Aug 2020, but it's the latest one I know of from Raymond James. I bring it up to answer my own question in a previous post as to what the price target was and if it was 5 year or 4 year....it's a 4 year target.
The latest Raymond James report that I have found, link below, had a 2024 price target of $C 443. That is well over $US 300.
https://www.cantechletter.com/2020/08/the-skys-the-limit-for-profound-medical-says-raymond-james/
I think PROF is finally getting noticed. Not sure why it took the GE news to make it happen...or possibly something is coming up we don't know about yet. This is the only company that I know of that had an over $300 5 year price target by a reputable analyst (Raymond James) while the stock was in the teens. Or was that the 4 year target?
Congrats to everyone long.
I think the GE news further validates their technology which is bullish. To really get it going we need more installations and/or insurance coverage, especially Medicare
They were hoping for 10 operational sites by year end on the last call so wonder what happened? Still covid related or what?
I heard Al Roker has prostate cancer. If anyone has a way to get this solution to him and if he were to use it we might get some real recognition and Roker would likely get a good outcome too.
All my small medical stocks are down today, many down a lot. So this selling does not seem to be PROF specific.
New Clinical Trial site listed for Tulsa Pro on their webpage.
Johns Hopkins is a 7th site listed as a clinical trial site.
https://tulsaprocedure.com/tulsa-centres/procedure-centre-usa/
Vaccine news should be big for PROF. This company's growth has been held back due to covid. This should be very bullish. So far the market / traders are asleep on this.
Well there is this from the Jeffries report:
“While our forecasts do not assume reimbursement shifts, Profound has recently noted that TULSA could be covered under existing codes and a third-party memo supporting such a path has been circulated,”
Maybe we will hear something directly from the company on the next conf call
I contacted PROF Investor Relations and was told "We do not typically announce new customers". Well, that's news to me but maybe it is the new policy going forward?
Also, was able to verify UT Medical Center to begin treating patients in October.
Everything medical related is down badly today. Biotech was down even in the morning when the Dow was up.
Jeffries analyst thought 7 more sites operating by end of year. If one of those is the one in CA that has been shuttered that means 6 new installations. We only have 3 months left so that is 2 per month on avg if he is right. Come on guys lets get these sites open and do some PRs