Parabilis Medicines (NASDAQ:PBLS) Coverage Initiated at Bank of America

Analysts at Bank of America assumed coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 52.13% from the stock’s previous close.

A number of other brokerages also recently issued reports on PBLS. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research report on Monday. They issued an “outperform” rating and a $40.00 price objective on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Finally, Guggenheim initiated coverage on shares of Parabilis Medicines in a report on Monday. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $42.50.

Parabilis Medicines Price Performance

Shares of PBLS stock opened at $29.58 on Monday. Parabilis Medicines has a 1-year low of $24.51 and a 1-year high of $34.47.

Insider Buying and Selling

In related news, major shareholder Guy Levy bought 500,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider owned 1,027,000 shares in the company, valued at approximately $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Sebulsky purchased 9,065 shares of the business’s stock in a transaction on Monday, June 15th. The shares were bought at an average price of $26.49 per share, for a total transaction of $240,131.85. Following the purchase, the director directly owned 30,000 shares in the company, valued at $794,700. This represents a 43.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 530,000 shares of company stock valued at $10,723,528 over the last quarter.