A monumental but likely temporary downtrend is occurring at the moment for ProMetic Life Sciences inc.(TSE:PLI)(Pli.ca). I know of one person who would more than likely agree the downtrend is not permanent. As it does not seem to be stopping optimistic insider Martin Leclerc from purchasing $14,800.00 CAD or 20,000 shares of ProMetic Life Sciences stock in a transaction dated Tuesday, April 3rd.
Numerous brokerage houses have be weighing in the last few weeks and over all it looks like its going to be a rough road back to last years highs. Royal Bank of Canada reduced their price target on ProMetic Life Sciences from C$3.50 to C$2.00 and set an “outperform” rating for the company in a research report on Monday April 2nd. CIBC reduced their price target on ProMetic Life Sciences from C$2.15 to C$0.60 in their research report also on Monday April 2. In a research report on Tuesday April the 3rd Canaccord Genuity reduced their price target on ProMetic Life Sciences Inc. from C$4.00 to C$2.00.
This promising internal company confidence is a good sign. Coupled with currently lowered price from the recent shake-out, should afford new investors the benefit of a lower then expected entry price.
ProMetic Life Sciences Company Profile
Prometic Life Sciences Inc (ProMetic) is a Canada-based biopharmaceutical company. The Company has two segments: Small Molecule Therapeutics and Protein Technology. The Company offers its technology platform for large-scale drug purification of biologics, drug development, proteomics and the elimination of pathogens to various industries, and uses its own affinity technology that provides for extraction and purification of therapeutic proteins from human plasma in order to develop therapeutics and orphan drugs.
** We are currently long TSE:PLI but as always the opinions stated are that just opinions, you make and are responsible for your choices and investments, good luck!