Parabilis Medicines, Inc. (NASDAQ:PBLS) Given Average Rating of “Buy” by Analysts

Parabilis Medicines, Inc. (NASDAQ:PBLS) has been given an average recommendation of “Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $41.6667.

A number of brokerages have weighed in on PBLS. Bank of America started coverage on Parabilis Medicines in a research report on Monday. They issued a “buy” rating and a $45.00 target price for the company. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Evercore assumed coverage on Parabilis Medicines in a research note on Monday. They set an “outperform” rating for the company. Finally, Leerink Partners started coverage on shares of Parabilis Medicines in a research report on Monday. They set an “outperform” rating and a $40.00 price target for the company.

Parabilis Medicines Stock Up 5.0%

Shares of NASDAQ:PBLS traded up $1.45 during midday trading on Tuesday, reaching $30.65. 281,993 shares of the company’s stock traded hands, compared to its average volume of 950,363. Parabilis Medicines has a one year low of $24.51 and a one year high of $34.47.

Insider Buying and Selling

In other Parabilis Medicines news, major shareholder Guy Levy purchased 500,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Sebulsky acquired 9,065 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $26.49 per share, with a total value of $240,131.85. Following the transaction, the director owned 30,000 shares in the company, valued at approximately $794,700. This trade represents a 43.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 530,000 shares of company stock valued at $10,723,528.