Parabilis Medicines (NASDAQ:PBLS) Now Covered by Canaccord Genuity Group

Analysts at Canaccord Genuity Group assumed coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $39.00 price target on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 36.70% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. HC Wainwright started coverage on Parabilis Medicines in a research note on Thursday, October 22nd. They set a “buy” rating and a $40.00 target price for the company. Weiss Ratings cut shares of Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Parabilis Medicines Stock Performance

Shares of PBLS stock opened at $28.53 on Monday. Parabilis Medicines has a 1 year low of $22.66 and a 1 year high of $42.49. The firm has a market cap of $3.52 billion and a PE ratio of -13.39. The firm’s fifty day moving average price is $31.91.

Parabilis Medicines (NASDAQ:PBLS) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The firm had revenue of $0.15 million during the quarter. As a group, sell-side analysts predict that Parabilis Medicines will post -2.60 EPS for the current year.

Institutional Trading of Parabilis Medicines

A number of large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC acquired a new position in Parabilis Medicines in the third quarter worth approximately $35,000. Parallel Advisors LLC increased its holdings in shares of Parabilis Medicines by 95.5% in the third quarter. Parallel Advisors LLC now owns 1,075 shares of the company’s stock valued at $35,000 after buying an additional 525 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Parabilis Medicines in the third quarter valued at $96,000. Persistent Asset Partners Ltd bought a new position in shares of Parabilis Medicines in the second quarter valued at $113,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Parabilis Medicines during the 2nd quarter valued at $274,000.

About Parabilis Medicines