Parabilis Medicines (NASDAQ:PBLS) Coverage Initiated at Leerink Partners

Investment analysts at Leerink Partners began coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $40.00 price target on the stock. Leerink Partners’ price objective suggests a potential upside of 35.23% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on PBLS. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Guggenheim initiated coverage on shares of Parabilis Medicines in a research report on Monday. They issued a “buy” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $41.67.

Parabilis Medicines Stock Performance

Parabilis Medicines stock opened at $29.58 on Monday. Parabilis Medicines has a 52 week low of $24.51 and a 52 week high of $34.47.

Insider Transactions at Parabilis Medicines

In other news, major shareholder Guy Levy bought 500,000 shares of Parabilis Medicines stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider owned 1,027,000 shares in the company, valued at approximately $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan Sebulsky purchased 9,065 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the completion of the purchase, the director directly owned 30,000 shares in the company, valued at $794,700. The trade was a 43.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 530,000 shares of company stock valued at $10,723,528.