Parabilis Medicines (NASDAQ:PBLS) Stock Jumps 6% – Time to Buy?

by · The Markets Daily

Parabilis Medicines, Inc. (NASDAQ:PBLS – Get Free Report)’s stock price rose 6% on Monday. The stock traded as high as $33.16 and last traded at $33.06. 390,284 shares changed hands during trading, a decline of 46% from the average daily volume of 723,715 shares. The stock had previously closed at $31.20.

Analyst Ratings Changes

Several brokerages have commented on PBLS. Weiss Ratings raised Parabilis Medicines from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 18th. Lifesci Capital upgraded shares of Parabilis Medicines to a “strong-buy” rating in a research note on Monday, July 6th. Evercore began coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating on the stock. 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. Finally, Leerink Partners started coverage on shares of Parabilis Medicines in a research report on Monday, July 6th. They issued an “outperform” rating and a $40.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.67.

Read Our Latest Stock Report on PBLS

Parabilis Medicines Price Performance

The firm has a fifty day moving average of $36.38.

Parabilis Medicines (NASDAQ:PBLS – Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The company had revenue of $0.15 million during the quarter. On average, equities research analysts anticipate that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Hedge Funds Weigh In On Parabilis Medicines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd bought a new stake in Parabilis Medicines in the second quarter valued at about $113,000. Alyeska Investment Group L.P. bought a new position in Parabilis Medicines during the second quarter worth about $274,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parabilis Medicines during the second quarter worth about $526,000. WINTON GROUP Ltd bought a new position in Parabilis Medicines during the second quarter worth about $955,000. Finally, Squarepoint Ops LLC acquired a new stake in Parabilis Medicines during the second quarter valued at approximately $1,327,000.

Parabilis Medicines Company Profile

(Get Free Report)

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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