Parabilis Medicines (NASDAQ:PBLS) Upgraded by Guggenheim to Strong-Buy Rating

Parabilis Medicines (NASDAQ:PBLS) was upgraded by Guggenheim to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

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

Parabilis Medicines Stock Performance

PBLS traded up $0.29 during trading hours on Monday, hitting $29.49. The company’s stock had a trading volume of 109,248 shares, compared to its average volume of 939,208. Parabilis Medicines has a fifty-two week low of $24.51 and a fifty-two week high of $34.47.

Insider Buying and Selling at Parabilis Medicines

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