Analysts Set Parabilis Medicines, Inc. (NASDAQ:PBLS) Target Price at $41.67

Parabilis Medicines, Inc. (NASDAQ:PBLSGet Free Report) has earned a consensus recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $41.6667.

Several research analysts recently commented 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. Guggenheim initiated coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued a “buy” rating and a $40.00 target price for the company. Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Bank of America started coverage on Parabilis Medicines in a research report on Monday, July 6th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th.

Get Our Latest Report on Parabilis Medicines

Insider Activity

In other Parabilis Medicines news, major shareholder Guy Levy purchased 500,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider owned 1,027,000 shares in the company, valued at $20,540,000. This represents a 94.88% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Sebulsky purchased 12,500 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the director owned 12,500 shares of the company’s stock, valued at approximately $250,000. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 530,000 shares of company stock worth $10,723,528 over the last ninety days.

Institutional Trading of Parabilis Medicines

Large investors have recently bought and sold shares of the stock. Alphabet Inc. purchased a new position in shares of Parabilis Medicines in the second quarter worth $134,647,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Parabilis Medicines during the second quarter worth $526,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Parabilis Medicines during the second quarter valued at $113,000.

Parabilis Medicines Stock Down 1.7%

PBLS stock opened at $34.98 on Friday. Parabilis Medicines has a one year low of $24.51 and a one year high of $36.82. The firm’s 50-day moving average price is $29.99.

About Parabilis Medicines

(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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Analyst Recommendations for Parabilis Medicines (NASDAQ:PBLS)

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