Parabilis Medicines (NASDAQ:PBLS) Hits New 52-Week High – Time to Buy?

Parabilis Medicines, Inc. (NASDAQ:PBLS)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $41.98 and last traded at $41.98, with a volume of 271135 shares. The stock had previously closed at $36.88.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PBLS shares. Guggenheim began coverage on Parabilis Medicines in a report on Monday, July 6th. They issued a “buy” rating and a $40.00 price objective for the company. Evercore assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating for the company. Bank of America assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $45.00 price objective on the stock. Weiss Ratings started coverage on shares of Parabilis Medicines in a report on Friday, September 4th. They issued a “sell (d)” rating on the stock. Finally, Leerink Partners assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They issued an “outperform” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

Parabilis Medicines Trading Up 10.6%

The stock has a 50 day moving average price of $35.50.

Parabilis Medicines (NASDAQ:PBLS) last issued its quarterly 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 company had revenue of $0.15 million during the quarter. Equities research analysts expect that Parabilis Medicines, Inc. will post -2.05 earnings per share for the current year.

Institutional Investors Weigh In On Parabilis Medicines

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

Parabilis Medicines Company Profile

Parabilis Medicines Inc is a clinical-stage biopharmaceutical company built to develop transformative medicines addressing some of the most consequential, yet historically undruggable, protein targets driving human disease. Parabilis Medicines Inc is based in CAMBRIDGE, Mass.