Parabilis Medicines (NASDAQ:PBLS) Shares Climb 7% - Should You Buy?

Key Points

• PBLS shares rose 7% to $29.39 in midday trading, though trading volume was about 31% below its average daily level.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.67; Guggenheim and Bank of America set targets of $40 and $45, respectively.
• The company reported a significant quarterly EPS loss of $2.32 versus the expected $0.16 loss, generated just $0.15 million in revenue, and analysts expect a full-year loss of $3.09 per share.

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) shot up 7% during mid-day trading on Monday. The company traded as high as $29.50 and last traded at $29.39. Approximately 514,173 shares were traded during trading, a decline of 31% from the average daily volume of 741,096 shares. The stock had previously closed at $27.48.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PBLS shares. Guggenheim initiated 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. Evercore started coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set an "outperform" rating for the company. Wall Street Zen raised shares of Parabilis Medicines to a "hold" rating in a research note on Saturday, June 20th. Zacks Research upgraded shares of Parabilis Medicines to a "hold" rating in a report on Tuesday, July 7th. Finally, Bank of America assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $45.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Parabilis Medicines has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Parabilis Medicines Price Performance

The company has a 50 day simple moving average of $36.11. The company has a market cap of $3.62 billion and a PE ratio of -13.77.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share (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. Research analysts anticipate that Parabilis Medicines, Inc. will post -3.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parabilis Medicines

Several hedge funds and other institutional investors have recently bought and sold shares of PBLS. Persistent Asset Partners Ltd acquired a new position in Parabilis Medicines during the second quarter valued at $113,000. Alyeska Investment Group L.P. acquired a new position in shares of Parabilis Medicines in the second quarter worth about $274,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Parabilis Medicines during the 2nd quarter worth about $526,000. WINTON GROUP Ltd purchased a new stake in shares of Parabilis Medicines during the 2nd quarter worth about $955,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Parabilis Medicines during the 2nd quarter worth about $1,327,000.

About Parabilis Medicines

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