Parabilis Medicines, Inc. (NASDAQ:PBLS) Given Consensus Rating of “Buy” by Analysts

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with 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 issued a report on the stock in the last year is $41.6667.

Several analysts have issued reports on PBLS shares. Guggenheim started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $40.00 target price on the stock. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Evercore initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating on the stock. Finally, Zacks Research raised shares of Parabilis Medicines to a “hold” rating in a report on Tuesday, July 7th.

Insider Activity at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky purchased 9,065 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the purchase, the director owned 30,000 shares of the company’s stock, valued at $794,700. This represents a 43.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Guy Levy acquired 500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This trade represents a 94.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 530,000 shares of company stock worth $10,723,528.

Hedge Funds Weigh In On Parabilis Medicines

A number of large investors have recently made changes to their positions in the stock. ARCH Venture Management LLC purchased a new position in shares of Parabilis Medicines in the second quarter valued at $175,517,789,000. venBio Partners LLC purchased a new stake in Parabilis Medicines during the 2nd quarter worth about $144,149,497,000. Alphabet Inc. bought a new position in Parabilis Medicines in the 2nd quarter worth about $134,647,000. Regeneron Pharmaceuticals Inc. bought a new position in Parabilis Medicines in the 2nd quarter worth about $114,042,000. Finally, Jupiter Topco LLC purchased a new position in Parabilis Medicines during the 2nd quarter valued at about $62,710,000.

Parabilis Medicines Stock Up 2.1%

Shares of PBLS stock opened at $39.23 on Wednesday. The business’s 50 day moving average is $32.11. Parabilis Medicines has a 12-month low of $24.51 and a 12-month high of $41.49.

Parabilis Medicines (NASDAQ:PBLS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. Equities analysts forecast that Parabilis Medicines will post -2.05 earnings per share for the current fiscal year.

Parabilis Medicines Company Profile

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.