Parabilis Medicines (NASDAQ:PBLS) Rating Increased to Strong-Buy at Lifesci Capital

Parabilis Medicines (NASDAQ:PBLS) was upgraded by analysts at Lifesci Capital to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

PBLS has been the topic of several other reports. Leerink Partners started coverage on Parabilis Medicines in a report on Monday. They set an “outperform” rating and a $40.00 price target on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Bank of America assumed coverage on shares of Parabilis Medicines in a research report on Monday. They set a “buy” rating and a $45.00 target price on the stock. Guggenheim started coverage on shares of Parabilis Medicines in a report on Monday. They set a “buy” rating and a $40.00 target price on the stock. Finally, Evercore initiated coverage on shares of Parabilis Medicines in a research report on Monday. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, Parabilis Medicines currently has a consensus rating of “Buy” and a consensus target price of $41.67.

Parabilis Medicines Price Performance

Shares of NASDAQ PBLS traded up $0.29 during mid-day trading on Monday, hitting $29.49. 109,248 shares of the stock traded hands, compared to its average volume of 939,208. Parabilis Medicines has a twelve month low of $24.51 and a twelve month high of $34.47.

Insider Activity

In related news, major shareholder Guy Levy acquired 500,000 shares of the stock in a transaction dated 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 transaction, the insider directly owned 1,027,000 shares of the company’s stock, valued at $20,540,000. The trade was a 94.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Sebulsky purchased 9,065 shares of the stock in a transaction on Monday, June 15th. The shares were purchased at an average price of $26.49 per share, with a total value of $240,131.85. Following the acquisition, the director owned 30,000 shares in the company, valued at approximately $794,700. The trade was a 43.30% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 530,000 shares of company stock valued at $10,723,528.