HC Wainwright Begins Coverage on Parabilis Medicines (NASDAQ:PBLS)

Stock analysts at HC Wainwright started coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 43.63% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Guggenheim initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued a “buy” rating and a $40.00 price objective on the stock. Evercore began coverage on Parabilis Medicines in a research report on Monday, July 6th. They issued an “outperform” rating on the stock. Zacks Research raised Parabilis Medicines to a “hold” rating in a research note on Tuesday, July 7th. Finally, Leerink Partners initiated coverage on Parabilis Medicines in a research report on Monday, July 6th. They set an “outperform” rating and a $40.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Parabilis Medicines Price Performance

Shares of PBLS opened at $27.85 on Thursday. The stock’s 50 day simple moving average is $34.61. Parabilis Medicines has a 1-year low of $22.66 and a 1-year high of $42.49.

Parabilis Medicines (NASDAQ:PBLS) last posted its earnings results on Thursday, August 13th. The company reported ($2.32) earnings per share (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. As a group, sell-side analysts expect that Parabilis Medicines will post -3.09 earnings per share for the current fiscal year.

Institutional Trading of Parabilis Medicines

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