Profound Medical (PROF) Soars 9.5%: Is Further Upside Left in the Stock?

Company Overview - Profound Medical (PROF) shares increased by 9.5% to close at $8.34, with trading volume significantly higher than usual, contrasting with a 0.3% loss over the past four weeks [1] - The rise in share price followed the successful treatment of a prostate cancer patient at Mount Sinai Hospital using the TULSA-PRO system, which integrates advanced technologies for treatment [2] Financial Performance - The company is projected to report a quarterly loss of $0.28 per share, reflecting a year-over-year decline of 40%, while revenues are expected to reach $8 million, marking a 91.4% increase from the previous year [3] - The consensus EPS estimate for the upcoming quarter has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - Profound Medical operates within the Zacks Medical - Drugs industry, where Rigel Pharmaceuticals (RIGL) also holds a Zacks Rank of 3 (Hold) and has seen a 3.4% decrease in its share price [4][5] - Rigel's consensus EPS estimate for its upcoming report is $1.17, representing a 46.3% increase from the previous year, with its stock also experiencing a decline of 6.7% over the past month [5]