Parabilis Medicines (NASDAQ:PBLS) Shares Gap Up - Time to Buy?

Key Points

• Parabilis Medicines shares opened higher, rising from a prior close of $31.20 to $32.84 before trading at $32.06 on light volume.
• Analyst sentiment is generally positive, with an average rating of “Moderate Buy” and an average price target of $41.67; Leerink Partners set a $40 target and an “outperform” rating.
• The company reported a significant quarterly earnings miss, posting a loss of $2.32 per share versus the $0.16 consensus estimate, while major investors—including ARCH Venture Management, venBio, Alphabet and Regeneron—established new positions.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report)'s share price gapped up before the market opened on Tuesday. The stock had previously closed at $31.20, but opened at $32.84. Parabilis Medicines shares last traded at $32.06, with a volume of 9,715 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued an "outperform" rating and a $40.00 target price for the company. Evercore assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They set an "outperform" rating for the company. Lifesci Capital upgraded Parabilis Medicines to a "strong-buy" rating in a research report on Monday, July 6th. Zacks Research raised Parabilis Medicines to a "hold" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Parabilis Medicines to a "hold" rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.67.

Parabilis Medicines Stock Performance

The company's fifty day simple moving average is $36.49.

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 for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The business had revenue of $0.15 million for the quarter. On average, equities analysts predict that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Hedge Funds Weigh In On Parabilis Medicines

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

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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