Parabilis Medicines, Inc. (NASDAQ:PBLS) Given Consensus Rating of "Buy" by Analysts

Key Points

• Analysts hold a consensus “Buy” rating on Parabilis Medicines, with four buys, one strong buy and one hold; the average 12-month price target is $41.67.
• Insiders purchased 530,000 shares worth approximately $10.7 million over the past three months, including a $10 million purchase by major shareholder Guy Levy.
• PBLS opened at $39.23, near its 12-month high of $41.49, but the company reported a quarterly loss of $2.32 per share—well below the expected $0.16 loss—on just $150,000 in revenue.

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) have earned an average recommendation of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.6667.

Several analysts have issued reports on PBLS shares. Guggenheim started coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $40.00 target price on the stock. Wall Street Zen raised Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Lifesci Capital upgraded Parabilis Medicines to a "strong-buy" rating in a research note on Monday, July 6th. Evercore initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Finally, Zacks Research raised shares of Parabilis Medicines to a "hold" rating in a report on Tuesday, July 7th.

Insider Activity at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky purchased 9,065 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $26.49 per share, for a total transaction of $240,131.85. Following the purchase, the director owned 30,000 shares of the company's stock, valued at $794,700. This represents a 43.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Guy Levy acquired 500,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $20.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This trade represents a 94.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 530,000 shares of company stock worth $10,723,528.

Hedge Funds Weigh In On Parabilis Medicines

A number of large investors have recently made changes to their positions in the stock. ARCH Venture Management LLC purchased a new position in shares of Parabilis Medicines in the second quarter valued at $175,517,789,000. venBio Partners LLC purchased a new stake in Parabilis Medicines during the 2nd quarter worth about $144,149,497,000. Alphabet Inc. bought a new position in Parabilis Medicines in the 2nd quarter worth about $134,647,000. Regeneron Pharmaceuticals Inc. bought a new position in Parabilis Medicines in the 2nd quarter worth about $114,042,000. Finally, Jupiter Topco LLC purchased a new position in Parabilis Medicines during the 2nd quarter valued at about $62,710,000.

Parabilis Medicines Stock Up 2.1%

Shares of PBLS stock opened at $39.23 on Wednesday. The business's 50 day moving average is $32.11. Parabilis Medicines has a 12-month low of $24.51 and a 12-month high of $41.49.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. Equities analysts forecast that Parabilis Medicines will post -2.05 earnings per share for the current fiscal year.

Parabilis Medicines Company Profile

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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