ProMetic Life Sciences (TSE:PLI) Downgraded by Echelon Wealth Partners to Hold

Echelon Wealth Partners downgraded shares of ProMetic Life Sciences (TSE:PLI) from a speculative buy rating to a hold rating in a research note issued to investors on Tuesday, April 2nd, Zacks.com reports.

Several other brokerages have also recently commented on PLI. National Bank Financial raised shares of ProMetic Life Sciences from an underperform market weight rating to a sector perform market weight rating in a research note on Monday, March 11th. TD Securities cut shares of ProMetic Life Sciences from a hold rating to a reduce rating and reduced their price objective for the company from C$0.60 to C$0.30 in a research note on Thursday, December 20th. Finally, Royal Bank of Canada reduced their price objective on shares of ProMetic Life Sciences from C$1.25 to C$0.70 and set an outperform rating for the company in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of C$0.43.

Shares of PLI traded down C$0.01 during trading hours on Tuesday, hitting C$0.06. The company’s stock had a trading volume of 5,902,549 shares, compared to its average volume of 2,443,914. The company has a market capitalization of $50.43 million and a price-to-earnings ratio of -0.22. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 238.62. ProMetic Life Sciences has a 52-week low of C$0.05 and a 52-week high of C$1.01.

ProMetic Life Sciences (TSE:PLI) last posted its earnings results on Monday, April 1st. The company reported C$0.02 earnings per share for the quarter. The business had revenue of C$10.60 million during the quarter, compared to analysts’ expectations of C$6.60 million. On average, sell-side analysts expect that ProMetic Life Sciences will post -0.02 earnings per share for the current fiscal year.

About ProMetic Life Sciences

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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