Evercore Initiates Coverage on Parabilis Medicines (NASDAQ:PBLS)

Analysts at Evercore initiated coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating on the stock.

Several other research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Bank of America assumed coverage on shares of Parabilis Medicines in a research report on Monday. They set a “buy” rating and a $45.00 price target for the company. Guggenheim began coverage on Parabilis Medicines in a research note on Monday. They set a “buy” rating and a $40.00 price target on the stock. Finally, Leerink Partners assumed coverage on Parabilis Medicines in a report on Monday. They issued an “outperform” rating and a $40.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Parabilis Medicines currently has an average rating of “Buy” and a consensus target price of $41.67.

Parabilis Medicines Price Performance

Shares of PBLS opened at $29.58 on Monday. Parabilis Medicines has a 52-week low of $24.51 and a 52-week high of $34.47.

Insider Buying and Selling at Parabilis Medicines

In other Parabilis Medicines news, major shareholder Guy Levy bought 500,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider owned 1,027,000 shares in the company, valued at approximately $20,540,000. The trade was a 94.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Sebulsky purchased 12,500 shares of Parabilis Medicines stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director directly owned 12,500 shares of the company’s stock, valued at approximately $250,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 530,000 shares of company stock valued at $10,723,528 in the last ninety days.