Parabilis Medicines (NASDAQ:PBLS) Earns Outperform Rating from Analysts at Evercore

Equities research analysts at Evercore started coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research note issued on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating on the stock.

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

Parabilis Medicines Stock Performance

Shares of Parabilis Medicines stock opened at $29.58 on Monday. 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 9,065 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $26.49 per share, with a total value of $240,131.85. Following the completion of the acquisition, the director directly owned 30,000 shares of the company’s stock, valued at approximately $794,700. This trade represents a 43.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Guy Levy acquired 500,000 shares of Parabilis Medicines stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $20.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider owned 1,027,000 shares of the company’s stock, valued at $20,540,000. This trade represents a 94.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 530,000 shares of company stock worth $10,723,528.