ProMetic Life Sciences (PLI) Shares Up 10.6%

ProMetic Life Sciences Inc. (TSE:PLI) shares shot up 10.6% during mid-day trading on Thursday . The stock traded as high as C$1.60 and last traded at C$1.56. 1,729,509 shares traded hands during mid-day trading, an increase of 140% from the average session volume of 719,502 shares. The stock had previously closed at C$1.41.

Several research firms have recently issued reports on PLI. Cantor Fitzgerald restated an “overweight” rating on shares of ProMetic Life Sciences in a research report on Monday, November 20th. National Bank Financial reduced their price target on ProMetic Life Sciences from C$2.50 to C$2.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of C$3.50.

The company has a market cap of $1,140.00, a price-to-earnings ratio of -8.29 and a beta of 2.39.

In other ProMetic Life Sciences news, insider Jonathan Booth bought 75,000 shares of ProMetic Life Sciences stock in a transaction on Friday, October 6th. The shares were purchased at an average cost of C$1.21 per share, for a total transaction of C$90,750.00. Over the last quarter, insiders have acquired 85,625 shares of company stock worth $107,475.

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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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