Profound Medical (PROF) Surges 6.0%: Is This an Indication of Further Gains?

Earlier this month, the company announced that the United States Centers for Medicare and Medicaid Services issued its proposed rules establishing, for the first time, a Category 1 CPT code for its lead-marketed product Tulsa-Pro system, approved for the ablation of prostate tissue effective Jan 1, 2025. This might have driven the share price rally. While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation betw ...