Parabilis Medicines, Inc. (NASDAQ:PBLS) Receives Average Recommendation of “Buy” from Brokerages

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) have earned an average recommendation of “Buy” from the five brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $41.6667.

PBLS has been the subject of several research reports. Guggenheim initiated coverage on shares of Parabilis Medicines in a research note on Monday. They issued a “buy” rating and a $40.00 price target for the company. Evercore initiated coverage on Parabilis Medicines in a research report on Monday. They issued an “outperform” rating on the stock. Leerink Partners began coverage on Parabilis Medicines in a research report on Monday. They set an “outperform” rating and a $40.00 price objective for the company. Wall Street Zen raised Parabilis Medicines to a “hold” rating in a report on Saturday, June 20th. Finally, Lifesci Capital raised Parabilis Medicines to a “strong-buy” rating in a research note on Monday.

Parabilis Medicines Price Performance

Shares of PBLS traded up $1.45 during mid-day trading on Tuesday, hitting $30.65. 281,993 shares of the company’s stock traded hands, compared to its average volume of 950,363. Parabilis Medicines has a 1 year low of $24.51 and a 1 year high of $34.47.

Insider Activity

In other news, Director Alan Sebulsky purchased 12,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, the director directly owned 12,500 shares in the company, valued at approximately $250,000. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Guy Levy acquired 500,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the insider directly owned 1,027,000 shares in the company, valued at $20,540,000. The trade was a 94.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 530,000 shares of company stock valued at $10,723,528.