Parabilis Medicines (NASDAQ:PBLS) Now Covered by Analysts at HC Wainwright

Key Points

• HC Wainwright initiated coverage of Parabilis Medicines with a “buy” rating and a $40 price target, implying 43.63% upside from the stock’s current price.
• Analyst sentiment is generally positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $41.25.
• Parabilis reported a quarterly loss of $2.32 per share, far below the $0.16 consensus estimate, on just $0.15 million in revenue; several major investors, including ARCH Venture Management and Alphabet, recently acquired stakes.

Investment analysts at HC Wainwright initiated coverage on shares of Parabilis Medicines (NASDAQ:PBLS - Get Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The firm set a "buy" rating and a $40.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 43.63% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Zacks Research upgraded Parabilis Medicines to a "hold" rating in a research report on Tuesday, July 7th. Guggenheim initiated coverage on Parabilis Medicines in a report on Monday, July 6th. They issued a "buy" rating and a $40.00 price target for the company. Evercore started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Weiss Ratings raised Parabilis Medicines from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, October 16th. Finally, Leerink Partners started coverage on Parabilis Medicines in a report on Monday, July 6th. They set an "outperform" rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Parabilis Medicines presently has a consensus rating of "Moderate Buy" and an average target price of $41.25.

Parabilis Medicines Trading Up 2.8%

Shares of Parabilis Medicines stock opened at $27.85 on Thursday. Parabilis Medicines has a 52-week low of $22.66 and a 52-week high of $42.49. The business's 50-day moving average price is $34.61.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million for the quarter. Equities analysts anticipate that Parabilis Medicines will post -3.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. ARCH Venture Management LLC acquired a new stake in shares of Parabilis Medicines during the 2nd quarter valued at approximately $175,517,789. venBio Partners LLC purchased a new position in Parabilis Medicines in the 2nd quarter valued at approximately $144,149,497. Alphabet Inc. acquired a new position in Parabilis Medicines during the second quarter worth $134,647,000. Regeneron Pharmaceuticals Inc. acquired a new stake in Parabilis Medicines in the second quarter valued at $114,042,000. Finally, Jupiter Topco LLC acquired a new stake in Parabilis Medicines in the second quarter valued at $62,710,000.

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.

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