Parabilis Medicines, Inc. (NASDAQ:PBLS) Stock Has Average Target Price of $41.67

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.67.

PBLS has been the topic of several recent research reports. Bank of America initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They set a “buy” rating and a $45.00 target price on the stock. Leerink Partners assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating and a $40.00 price target for the company. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Zacks Research raised Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Finally, Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th.

Parabilis Medicines Stock Down 2.5%

PBLS stock opened at $32.47 on Friday. The business has a 50 day simple moving average of $36.35. Parabilis Medicines has a 12 month low of $24.51 and a 12 month high of $42.49.

Parabilis Medicines (NASDAQ:PBLS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The firm had revenue of $0.15 million for the quarter. On average, equities research analysts predict that Parabilis Medicines will post -2.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Parabilis Medicines

Institutional investors have recently modified their holdings of the company. Alphabet Inc. bought a new stake in shares of Parabilis Medicines during the 2nd quarter worth $134,647,000. ICONIQ Capital LLC bought a new position in Parabilis Medicines in the 2nd quarter worth $9,580,000. ARCH Venture Management LLC acquired a new position in Parabilis Medicines during the 2nd quarter worth $175,517,789. Squarepoint Ops LLC acquired a new position in Parabilis Medicines during the 2nd quarter worth $1,327,000. Finally, WINTON GROUP Ltd bought a new stake in Parabilis Medicines during the second quarter valued at about $955,000.

About Parabilis Medicines

Parabilis Medicines Inc is a clinical-stage biopharmaceutical company built to develop transformative medicines addressing some of the most consequential, yet historically undruggable, protein targets driving human disease. Parabilis Medicines Inc is based in CAMBRIDGE, Mass.