ProMetic Life Sciences Inc. (PLI) Price Target Lowered to C$3.50 at TD Securities

ProMetic Life Sciences Inc. (TSE:PLI) had its price target cut by equities researchers at TD Securities from C$4.50 to C$3.50 in a research report issued on Wednesday. The firm currently has a “speculative buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 155.47% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Canaccord Genuity reduced their target price on shares of ProMetic Life Sciences from C$4.75 to C$4.50 and set a “buy” rating on the stock in a research report on Monday, June 19th. Scotiabank reduced their target price on shares of ProMetic Life Sciences from C$4.75 to C$4.00 and set an “outperform” rating on the stock in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of ProMetic Life Sciences in a research report on Wednesday, May 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. ProMetic Life Sciences currently has a consensus rating of “Buy” and an average target price of C$4.07.

ProMetic Life Sciences (TSE:PLI) traded down 6.57% on Wednesday, hitting $1.28. The company’s stock had a trading volume of 1,073,858 shares. The firm has a 50 day moving average of $1.58 and a 200 day moving average of $2.01. ProMetic Life Sciences has a 12 month low of $1.17 and a 12 month high of $3.24. The firm’s market cap is $855.94 million.

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In related news, Director Louise Ménard sold 82,202 shares of ProMetic Life Sciences stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of C$1.60, for a total transaction of C$131,523.20. Over the last three months, insiders have purchased 28,424 shares of company stock worth $56,809.

About ProMetic Life Sciences

ProMetic Life Sciences Inc, a biopharmaceutical company, develops bioseparations, plasma-derived therapeutics, and small-molecule therapeutic products. The company offers its technology platform for large-scale drug purification, drug development, proteomics, and the elimination of pathogens; and develops small molecule therapeutic products targeting unmet medical needs in the fields of fibrosis, autoimmune disease/inflammation, and cancer.