ProMetic Life Sciences (PLI) Stock Price Down 25%

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Shares of ProMetic Life Sciences Inc. (TSE:PLI) dropped 25% on Tuesday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 278,149 shares changed hands during trading, a decline of 90% from the average daily volume of 2,920,766 shares. The stock had previously closed at C$0.04.

PLI has been the subject of several recent research reports. National Bank Financial dropped their price objective on ProMetic Life Sciences from C$0.45 to C$0.30 in a report on Thursday, April 4th. Canaccord Genuity lowered ProMetic Life Sciences from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Echelon Wealth Partners lowered ProMetic Life Sciences from a “speculative buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada decreased their target price on ProMetic Life Sciences from C$1.25 to C$0.70 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. ProMetic Life Sciences currently has an average rating of “Hold” and an average price target of C$0.43.

The stock has a market capitalization of $1.68 billion and a PE ratio of -0.11. The company has a debt-to-equity ratio of 238.62, a current ratio of 0.95 and a quick ratio of 0.65.

ProMetic Life Sciences (TSE:PLI) last posted its earnings results 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 analyst estimates of C$6.60 million. On average, equities research analysts forecast that ProMetic Life Sciences Inc. will post -0.02 EPS for the current year.

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About ProMetic Life Sciences (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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