Cantor Fitzgerald Thinks ProMetic Life’s Stock is Going to Recover

By Ryan Adsit

In a new note to investors yesterday, an analyst has provided a rating update for the Healthcare company, ProMetic Life (TSX: PLI). The company received a Buy rating from Cantor Fitzgerald’s analyst Mara Goldstein, with a C$4 price target.

According to TipRanks.com, Goldstein is ranked 0 out of 5 stars with an average return of -5.1% and a 35.8% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Corvus Pharmaceuticals Inc, and Karyopharm Therapeutics.

Currently, the analyst consensus on ProMetic Life is Moderate Buy and the average price target is C$4, representing a 203.0% upside.

In a report released yesterday, Canaccord Genuity also assigned a Buy rating to the stock with a C$4 price target.

ProMetic Life’s market cap is currently C$883.8M and has a P/E ratio of 0.

ProMetic Life Sciences Inc. engages in the manufacturing of biopharmaceutical products. It engages in purification of biologics, drug development, proteomics and the elimination of pathogens. The company operates through two segments: Small Molecule Therapeutics and Protein Technology.

The company’s shares closed on Tuesday at C$1.32, close to its 52-week low of C$1.12.