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Investing.com - Raymond James maintained its Outperform rating and $11.00 price target on Profound Medical Corp. (NASDAQ:PROF) on Thursday. The stock, currently trading at $5.37, has shown strong momentum with a 30% surge in the past week. According to InvestingPro data, analyst targets range from $11.00 to $15.25, suggesting significant upside potential.
The research firm expressed confidence in the potential of the company’s TULSA technology to become a primary treatment option for prostate disease.
Raymond James noted that Profound Medical is working effectively with current and prospective TULSA customers to optimize economic returns and expand patient access, which it views as key steps toward widespread adoption of the technology.
The firm believes Profound Medical is successfully converting mature pipeline leads into sales at a steady pace, maintaining momentum in its business development efforts.
Raymond James also highlighted that Profound Medical’s management remains confident in achieving its 75% year-over-year revenue growth goal through increasing utilization and capital sales, with installations expected to be weighted toward the fourth quarter of 2025.
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