Parabilis Medicines (NASDAQ:PBLS) Stock Jumps 7% – Time to Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s share price shot up 7% during trading on Monday. The company traded as high as $29.50 and last traded at $29.39. 514,173 shares were traded during trading, a decline of 31% from the average session volume of 741,096 shares. The stock had previously closed at $27.48.

Analysts Set New Price Targets

Several analysts have recently commented on PBLS shares. Evercore started coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research note on Saturday, June 20th. Lifesci Capital raised shares of Parabilis Medicines to a “strong-buy” rating in a report on Monday, July 6th. Leerink Partners initiated coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Zacks Research upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Stock Performance

The company’s 50 day moving average price is $35.83.

Parabilis Medicines (NASDAQ:PBLS) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The company had revenue of $0.15 million for the quarter. As a group, research analysts expect that Parabilis Medicines, Inc. will post -3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parabilis Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. ARCH Venture Management LLC purchased a new stake in shares of Parabilis Medicines during the 2nd quarter worth approximately $175,517,789. venBio Partners LLC purchased a new position in Parabilis Medicines in the 2nd quarter valued at approximately $144,149,497. Alphabet Inc. purchased a new position in Parabilis Medicines in the 2nd quarter valued at approximately $134,647,000. Regeneron Pharmaceuticals Inc. purchased a new position in Parabilis Medicines in the 2nd quarter valued at approximately $114,042,000. Finally, Jupiter Topco LLC acquired a new position in Parabilis Medicines during the second quarter worth $62,710,000.

Parabilis Medicines Company Profile