Parabilis Medicines (NASDAQ:PBLS) Rating Increased to Strong-Buy at Lifesci Capital

Lifesci Capital upgraded shares of Parabilis Medicines (NASDAQ:PBLS) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

Several other brokerages have also commented on PBLS. Bank of America assumed coverage on Parabilis Medicines in a research note on Monday. They issued a “buy” rating and a $45.00 price target on the stock. Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Evercore assumed coverage on Parabilis Medicines in a report on Monday. They set an “outperform” rating for the company. Guggenheim began coverage on shares of Parabilis Medicines in a research note on Monday. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Leerink Partners started coverage on shares of Parabilis Medicines in a report on Monday. They issued an “outperform” rating and a $40.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, Parabilis Medicines has a consensus rating of “Buy” and a consensus price target of $41.67.

Parabilis Medicines Stock Performance

PBLS traded up $0.43 during midday trading on Monday, reaching $29.63. 110,360 shares of the company’s stock were exchanged, compared to its average volume of 939,208. Parabilis Medicines has a one year low of $24.51 and a one year high of $34.47.

Insider Buying and Selling at Parabilis Medicines

In other Parabilis Medicines news, major shareholder Guy Levy bought 500,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Sebulsky bought 12,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director directly owned 12,500 shares of the company’s stock, valued at approximately $250,000. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 530,000 shares of company stock valued at $10,723,528.