Sector News

PROMETIC LIFE SCIENCES’S “BUY” RATING REAFFIRMED AT PARADIGM CAPITAL (PLI)

September 29, 2015
Life sciences

ProMetic Life Sciences (TSE:PLI)‘s stock had its “buy” rating reiterated by analysts at Paradigm Capital in a research note issued to investors on Monday, StockTargetPrices.com reports. They presently have a C$3.75 price target on the stock. Paradigm Capital’s price objective would suggest a potential upside of 132.92% from the company’s current price.

In other ProMetic Life Sciences news, Director Kurt Stefan Victor Clulow bought 229,900 shares of ProMetic Life Sciences stock in a transaction that occurred on Thursday, July 2nd. The stock was purchased at an average price of C$2.32 per share, with a total value of C$533,184.08. Also, Director Simon Geoffrey Best bought 30,000 shares of ProMetic Life Sciences stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average cost of C$1.95 per share, with a total value of C$58,464.00.

PLI has been the subject of a number of other research reports. Scotiabank set a C$3.00 target price on shares of ProMetic Life Sciences and gave the stock an “outperform” rating in a report on Thursday, July 9th. Canaccord Genuity decreased their price target on shares of ProMetic Life Sciences to C$3.50 and set a “buy” rating on the stock in a research note on Monday, August 17th.

ProMetic Life Sciences (TSE:PLI) traded down 6.83% during mid-day trading on Monday, reaching $1.50. The company had a trading volume of 868,749 shares. The company’s 50-day moving average is $1.92 and its 200-day moving average is $2.30. ProMetic Life Sciences has a one year low of $1.40 and a one year high of $2.87. The stock’s market capitalization is $871.08 million.

ProMetic Life Sciences Inc. (TSE:PLI) is a Canada-based biopharmaceutical company. The Company offers solutions in bioseparations, plasma-derived therapeutics and small-molecule drug development. ProMetic offers its technologies for large-scale purification of biologics, drug development, proteomics and the elimination of pathogens. The Company operates through two segments: Therapeutics and Protein Technology. Therapeutics segment is a small molecule drug discovery business. It has lead compounds, namely PBI-4050 indicated for the treatment of fibrosis in patients with chronic kidney diseases and certain cancers, and the side effects associated with chemotherapy. Protein Technology segment contains the financial information of the activities, including BioTherapeutics, Bioseparation and Prion Capture/Pathogen Removal.

By Christopher T. Ellis

Source: The Market Business

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