Profound Medical price target lowered to $11 from $17 at Lake Street

Lake Street lowered the firm’s price target on Profound Medical (PROF) to $11 from $17 and keeps a Buy rating on the shares. Initial data from the CAPTAIN study, which the firm calls out as “the first-ever Level 1 study comparing two treatment modalities in prostate cancer,” is set to be released at the American Urological Association later this week and Profound will also host an investor event next Monday during the conference, the analyst tells investors. While the firm says it anticipates “both will be well-received by investors and commercial payors,” it is reducing its revenue multiple for Profound and its price target due to the recent market volatility and decline in comp group multiples.