ProMetic Life Sciences (PLI) Shares Up 12.5%

ProMetic Life Sciences Inc. (TSE:PLI)’s share price shot up 12.5% during trading on Monday . The company traded as high as C$0.05 and last traded at C$0.05. 1,897,802 shares were traded during mid-day trading, a decline of 29% from the average session volume of 2,661,270 shares. The stock had previously closed at C$0.04.

A number of research firms have recently commented on PLI. Canaccord Genuity downgraded ProMetic Life Sciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Royal Bank of Canada cut their price objective on ProMetic Life Sciences from C$1.25 to C$0.70 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Echelon Wealth Partners downgraded ProMetic Life Sciences from a “speculative buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Finally, National Bank Financial upgraded ProMetic Life Sciences from an “underperform market weight” rating to a “sector perform market weight” rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of C$0.43.

The firm has a market capitalization of $828.82 million and a P/E ratio of -0.15. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 238.62.

ProMetic Life Sciences (TSE:PLI) last announced its earnings results on Monday, April 1st. The company reported C$0.02 EPS for the quarter. The company had revenue of C$10.60 million for the quarter, compared to analysts’ expectations of C$6.60 million. On average, analysts forecast that ProMetic Life Sciences Inc. will post -0.02 EPS for the current year.

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ProMetic Life Sciences Company Profile (TSE:PLI)

Prometic Life Sciences Inc operates as a biopharmaceutical company with two drug discovery platforms that focuses on unmet medical needs in the field of fibrosis and orphan diseases. Its product pipeline includes PBI-4050, an orally active lead drug candidate for fibrosis; plasminogen, a biopharmaceutical for the treatment of congenital plasminogen deficiency; and intravenous immunoglobulin, a preparation of antibodies purified from plasma donations from healthy individuals.

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