ProMetic Life Sciences Inc. (TSE:PLI) was down 3.8% during trading on Friday . The stock traded as low as C$1.51 and last traded at C$1.51. Approximately 427,817 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,029,100 shares. The stock had previously closed at C$1.57.
A number of research firms have issued reports on PLI. TD Securities cut their target price on shares of ProMetic Life Sciences from C$4.50 to C$3.50 and set a “speculative buy” rating for the company in a research report on Wednesday, August 16th. Scotiabank cut their target price on shares of ProMetic Life Sciences from C$4.75 to C$4.00 and set an “outperform” rating for the company in a research report on Friday, July 7th. National Bank Financial increased their target price on shares of ProMetic Life Sciences from C$2.00 to C$2.50 in a research report on Wednesday, August 30th. Finally, Royal Bank Of Canada cut their target price on shares of ProMetic Life Sciences from C$4.00 to C$3.50 and set an “outperform” rating for the company in a research report on Wednesday, August 16th.
The company’s market capitalization is $1.05 billion. The stock has a 50 day moving average price of $1.54 and a 200-day moving average price of $1.72.
In other news, insider Bruce Pritchard purchased 48,400 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of C$1.30 per share, with a total value of C$62,920.00. Also, Director Pierre Laurin sold 41,427 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of C$1.45, for a total transaction of C$60,069.15. Over the last ninety days, insiders have acquired 184,150 shares of company stock worth $231,429 and have sold 388,397 shares worth $507,577.
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ProMetic Life Sciences Company Profile
Prometic Life Sciences Inc (ProMetic) is a Canada-based biopharmaceutical company. The Company has two segments: Small Molecule Therapeutics and Protein Technology. The Company offers its technology platform for large-scale drug purification of biologics, drug development, proteomics and the elimination of pathogens to various industries, and uses its own affinity technology that provides for extraction and purification of therapeutic proteins from human plasma in order to develop therapeutics and orphan drugs.
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