Profound Medical pullback after Q4 report ‘misguided,’ says Lake Street

Lake Street analyst Ben Haynor views last Friday’s reaction to Profound Medical’s (PROF) Q4 results as “misguided” and resulting in “major news being overlooked,” namely that the first clinical CAPTAIN data is being presented this Friday at the European Association of Urology. The analyst states that given this upcoming news, calling the study “one of the most important ever conducted in prostate cancer,” does a roughly $140M enterprise value “sound reasonable for Profound? We think not.” The firm keeps a Buy rating and $12 price target on Profound shares.