ProMetic Life Sciences (PLI) Trading Down 20%

ProMetic Life Sciences Inc. (TSE:PLI) shares fell 20% during trading on Wednesday . The company traded as low as C$0.04 and last traded at C$0.04. 8,151,561 shares were traded during mid-day trading, an increase of 189% from the average session volume of 2,817,786 shares. The stock had previously closed at C$0.05.

A number of research analysts have issued reports on PLI shares. Canaccord Genuity cut ProMetic Life Sciences from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. National Bank Financial lowered their price objective on ProMetic Life Sciences from C$0.45 to C$0.30 in a research note on Thursday, April 4th. Echelon Wealth Partners cut ProMetic Life Sciences from a “speculative buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada lowered their price objective on 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. ProMetic Life Sciences has an average rating of “Hold” and a consensus price target of C$0.43.

The company has a market cap of $1.04 billion and a PE ratio of -0.19. The company has a quick ratio of 0.65, a current ratio of 0.95 and a debt-to-equity ratio of 238.62.

ProMetic Life Sciences (TSE:PLI) last announced its quarterly earnings data on Monday, April 1st. The company reported C$0.02 earnings per share (EPS) for the quarter. The company had revenue of C$10.60 million for the quarter, compared to analysts’ expectations of C$6.60 million. Analysts expect that ProMetic Life Sciences Inc. will post -0.0199999982222224 earnings per share for the current fiscal year.

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ProMetic Life Sciences Company Profile (TSE:PLI)

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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