Parabilis Medicines, Inc. (NASDAQ:PBLS) Receives $41.67 Average Target Price from Analysts

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) have been assigned an average rating of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $41.6667.

Several research firms have recently issued reports on PBLS. Bank of America began coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $45.00 price objective for the company. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Guggenheim initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $40.00 price target on the stock. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Finally, Evercore started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating for the company.

Insider Activity

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

Institutional Trading of Parabilis Medicines

Several institutional investors have recently modified their holdings of PBLS. Frazier Life Sciences Management L.P. purchased a new position in shares of Parabilis Medicines in the 2nd quarter valued at $52,572,000. ICONIQ Capital LLC acquired a new stake in Parabilis Medicines during the 2nd quarter worth $9,580,000. Alyeska Investment Group L.P. acquired a new stake in Parabilis Medicines during the 2nd quarter worth $274,000. Regeneron Pharmaceuticals Inc. purchased a new stake in Parabilis Medicines in the second quarter valued at $114,042,000. Finally, venBio Partners LLC purchased a new stake in Parabilis Medicines in the second quarter valued at $144,149,497.

Parabilis Medicines Stock Performance

Shares of NASDAQ:PBLS opened at $39.47 on Wednesday. Parabilis Medicines has a fifty-two week low of $24.51 and a fifty-two week high of $41.49. The company has a 50 day moving average price of $33.38.

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

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.