Parabilis Medicines (NASDAQ:PBLS) Now Covered by Canaccord Genuity Group

Investment analysts at Canaccord Genuity Group assumed coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a report released on Monday, Briefing.com reports. The firm set a “buy” rating and a $39.00 price target on the stock. Canaccord Genuity Group‘s price target suggests a potential upside of 36.70% from the company’s previous close.

A number of other analysts have also recently weighed in on PBLS. Weiss Ratings cut shares of Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, November 2nd. HC Wainwright assumed coverage on shares of Parabilis Medicines in a research note on Thursday, October 22nd. They set a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Parabilis Medicines Price Performance

Shares of Parabilis Medicines stock opened at $28.53 on Monday. Parabilis Medicines has a twelve month low of $22.66 and a twelve month high of $42.49. The business’s 50 day moving average is $31.91. The firm has a market cap of $3.52 billion and a PE ratio of -13.39.

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 business had revenue of $0.15 million during the quarter. As a group, research analysts forecast that Parabilis Medicines will post -2.60 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PBLS. Russell Investments Group Ltd. acquired a new position in Parabilis Medicines during the 3rd quarter valued at about $96,000. Alphabet Inc. bought a new stake in shares of Parabilis Medicines during the 3rd quarter worth about $158,851,000. Parallel Advisors LLC raised its position 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 worth $35,000 after buying an additional 525 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Parabilis Medicines in the 3rd quarter worth approximately $35,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Parabilis Medicines in the 2nd quarter worth approximately $955,000.

Parabilis Medicines Company Profile