Parabilis Medicines (NASDAQ:PBLS) Trading Up 6% - Still a Buy?

Key Points

• Parabilis Medicines shares rose about 6% to $37.85 in mid-day trading, although volume was roughly 70% below the stock’s average daily level.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.67, implying further upside from the current price.
• The company reported a significant quarterly EPS miss, posting a loss of $2.32 per share versus the $0.16 consensus estimate, while quarterly revenue was only $150,000.

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS - Get Free Report) traded up 6% during mid-day trading on Wednesday . The stock traded as high as $37.87 and last traded at $37.85. Approximately 164,916 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 551,517 shares. The stock had previously closed at $35.72.

Wall Street Analysts Forecast Growth

PBLS has been the subject of a number of research reports. Guggenheim initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a "buy" rating and a $40.00 target price for the company. Zacks Research raised Parabilis Medicines to a "hold" rating in a report on Tuesday, July 7th. Evercore initiated coverage on Parabilis Medicines in a research note on Monday, July 6th. They issued an "outperform" rating on the stock. Wall Street Zen raised Parabilis Medicines to a "hold" rating in a report on Saturday, June 20th. Finally, Lifesci Capital upgraded Parabilis Medicines to a "strong-buy" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Parabilis Medicines Trading Up 6.9%

The firm has a 50 day simple moving average of $35.37.

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 firm had revenue of $0.15 million during the quarter. Analysts expect that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Institutional Trading of Parabilis Medicines

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

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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