Parabilis Medicines (NASDAQ:PBLS) Sets New 1-Year Low – What’s Next?

Shares of Parabilis Medicines, Inc. (NASDAQ:PBLS) reached a new 52-week low on Friday. The company traded as low as $24.24 and last traded at $24.25, with a volume of 47,788 shares. The stock had previously closed at $25.18.

Analysts Set New Price Targets

PBLS has been the subject of several recent analyst reports. Lifesci Capital upgraded Parabilis Medicines to a “strong-buy” rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Evercore began coverage on shares of Parabilis Medicines in a report on Monday, July 6th. They issued an “outperform” rating for the company. Leerink Partners assumed coverage on shares of Parabilis Medicines in a research note on Monday, July 6th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Bank of America assumed coverage on Parabilis Medicines in a research note on Monday, July 6th. They set a “buy” rating and a $45.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.67.

Parabilis Medicines Stock Performance

The company has a market cap of $3.03 billion and a PE ratio of -11.51. The firm has a fifty day moving average of $35.44.

Parabilis Medicines (NASDAQ:PBLS) last announced its earnings results on Thursday, August 13th. The company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($2.16). The business had revenue of $0.15 million for the quarter. Equities analysts forecast that Parabilis Medicines, Inc. will post -3.09 EPS for the current year.

Hedge Funds Weigh In On Parabilis Medicines

Hedge funds have recently modified their holdings of the business. ARCH Venture Management LLC acquired a new stake in shares of Parabilis Medicines during the second quarter worth about $175,517,789. venBio Partners LLC acquired a new stake in shares of Parabilis Medicines during the second quarter worth $144,149,497. Alphabet Inc. purchased a new position in shares of Parabilis Medicines during the 2nd quarter worth approximately $134,647,000. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Parabilis Medicines in the second quarter valued at about $114,042,000. Finally, Jupiter Topco LLC acquired a new position in shares of Parabilis Medicines during the 2nd quarter worth $62,710,000.

About Parabilis Medicines