Parabilis Medicines (NASDAQ:PBLS) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research note released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $39.00 price objective on the stock.

Several other equities research analysts have also weighed in on the stock. HC Wainwright assumed coverage on shares of Parabilis Medicines in a report on Thursday, October 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings downgraded Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Parabilis Medicines Price Performance

Shares of NASDAQ:PBLS opened at $29.65 on Monday. The stock’s 50-day moving average price is $31.36. Parabilis Medicines has a 1-year low of $22.66 and a 1-year high of $42.49.

Parabilis Medicines (NASDAQ:PBLS) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($2.16). The company had revenue of $0.15 million for the quarter. As a group, sell-side analysts expect that Parabilis Medicines will post -2.60 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBLS. Parallel Advisors LLC boosted its holdings in shares of Parabilis Medicines by 95.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,075 shares of the company’s stock valued at $35,000 after acquiring an additional 525 shares in the last quarter. Sterling Capital Management LLC bought a new position in shares of Parabilis Medicines during the 3rd quarter worth about $35,000. Russell Investments Group Ltd. bought a new position in shares of Parabilis Medicines in the 3rd quarter worth $96,000. Persistent Asset Partners Ltd bought a new stake in Parabilis Medicines during the 2nd quarter worth approximately $113,000. Finally, Voya Investment Management LLC purchased a new stake in shares of Parabilis Medicines in the third quarter valued at about $241,000.

About Parabilis Medicines

Parabilis Medicines is a clinical-stage biopharmaceutical company developing medicines for diseases driven by proteins that have been difficult to target with conventional drugs. Its research focuses on macrocyclic peptides designed to address challenging protein interactions, including targets relevant to cancer. The company uses its proprietary Helicon platform to design these peptide-based drug candidates. Parabilis is based in Cambridge, Massachusetts, and was formerly known as Peptone. Parabilis was founded by Gregory Verdine, who serves as the company’s chief executive officer.