Parabilis Medicines (NASDAQ:PBLS) Hits New 52-Week High – Time to Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS) reached a new 52-week high during trading on Thursday . The company traded as high as $41.98 and last traded at $41.98, with a volume of 271135 shares traded. The stock had previously closed at $36.88.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PBLS shares. Zacks Research raised Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Evercore assumed coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Weiss Ratings began coverage on shares of Parabilis Medicines in a research report on Friday, September 4th. They set a “sell (d)” rating for the company. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Finally, Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Parabilis Medicines Stock Up 10.6%

The stock’s 50 day moving average is $35.50.

Parabilis Medicines (NASDAQ:PBLS) last released its quarterly earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The business had revenue of $0.15 million during the quarter. As a group, equities analysts forecast that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PBLS. ARCH Venture Management LLC bought a new stake in Parabilis Medicines during the 2nd quarter worth about $175,517,789. venBio Partners LLC bought a new position in shares of Parabilis Medicines in the 2nd quarter valued at about $144,149,497. Alphabet Inc. acquired a new stake in shares of Parabilis Medicines in the second quarter valued at about $134,647,000. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Parabilis Medicines in the second quarter valued at about $114,042,000. Finally, Jupiter Topco LLC bought a new stake in Parabilis Medicines during the second quarter worth about $62,710,000.

Parabilis Medicines Company Profile

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.