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Stock analysts at Jefferies Group began coverage on shares of Parnell Pharmaceuticals Holdings (NASDAQ:PARN) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $18.00 price target on the stock. Jefferies Group’s target price suggests a potential upside of 162.77% from the stock’s previous close.

Separately, analysts at Piper Jaffray initiated coverage on shares of Parnell Pharmaceuticals Holdings in a research note on Monday. They set an “overweight” rating and a $17.00 price target on the stock.

Shares of Parnell Pharmaceuticals Holdings (NASDAQ:PARN) traded up 4.25% during mid-day trading on Monday, hitting $7.141. 151,298 shares of the company’s stock traded hands. Parnell Pharmaceuticals Holdings has a 52 week low of $6.17 and a 52 week high of $9.48. The stock has a 50-day moving average of $7.26 and a 200-day moving average of $7.26. The company’s market cap is $59.1 million.

Parnell Pharmaceuticals Holdings Ltd is an integrated pharmaceutical company focused on developing, manufacturing and commercializing animal health solutions.

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