Parabilis Medicines (NASDAQ:PBLS) Stock Price Down 7.6% - What's Next?

Key Points

• Parabilis Medicines shares fell 7.6% to $26.62 in mid-day trading, with volume down 80% from its average; the stock’s 50-day moving average is $36.32.
• Despite the decline, analysts hold a consensus “Moderate Buy” rating with an average price target of $41.67, supported by $40 and $45 targets from Leerink Partners and Bank of America.
• The company reported a significant quarterly EPS miss of $2.32 versus the $0.16 expected, while revenue was just $150,000; analysts forecast a full-year loss of $2.05 per share.

Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report)'s share price traded down 7.6% during mid-day trading on Thursday. The company traded as low as $26.40 and last traded at $26.62. 145,388 shares were traded during trading, a decline of 80% from the average daily volume of 724,424 shares. The stock had previously closed at $28.82.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PBLS shares. Weiss Ratings lowered shares of Parabilis Medicines from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 2nd. Lifesci Capital upgraded shares of Parabilis Medicines to a "strong-buy" rating in a research report on Monday, July 6th. Zacks Research upgraded shares of Parabilis Medicines to a "hold" rating in a research note on Tuesday, July 7th. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set an "outperform" rating and a $40.00 price objective for the company. Finally, Bank of America assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued a "buy" rating and a $45.00 price objective for the company. One investment 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Parabilis Medicines Trading Down 8.6%

The business's fifty day moving average is $36.32. The stock has a market cap of $3.26 billion and a price-to-earnings ratio of -12.37.

Parabilis Medicines (NASDAQ:PBLS - Get Free Report) last released 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 business had revenue of $0.15 million for the quarter. On average, sell-side analysts anticipate that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parabilis Medicines

A number of hedge funds have recently added to or reduced their stakes in PBLS. Persistent Asset Partners Ltd bought a new position in Parabilis Medicines in the second quarter worth about $113,000. Alyeska Investment Group L.P. bought a new stake in shares of Parabilis Medicines in the 2nd quarter valued at about $274,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Parabilis Medicines in the 2nd quarter valued at about $526,000. WINTON GROUP Ltd purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth approximately $955,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Parabilis Medicines in the 2nd quarter worth approximately $1,327,000.

About Parabilis Medicines

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.