ProMetic Life Sciences Inc. (TSE:PLI) shares rose 20% during trading on Monday . The company traded as high as C$0.06 and last traded at C$0.06. Approximately 2,612,458 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 2,304,291 shares. The stock had previously closed at C$0.05.
PLI has been the topic of a number of research reports. National Bank Financial raised ProMetic Life Sciences from an “underperform” rating to a “sector perform” rating and set a C$0.45 price objective on the stock in a report on Monday, January 28th. Royal Bank of Canada reduced their target price 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. Finally, Echelon Wealth Partners lowered ProMetic Life Sciences from a “speculative buy” rating to a “hold” rating in a report on Tuesday, April 2nd.
The firm has a market capitalization of $36.02 million and a PE ratio of -0.22. The company has a debt-to-equity ratio of 238.62, a current ratio of 1.14 and a quick ratio of 0.77.
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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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