Parabilis Medicines (NASDAQ:PBLS) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research report sent to investors on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $45.00 target price on the stock.

Several other analysts have also recently weighed in on PBLS. Leerink Partners began coverage on shares of Parabilis Medicines in a research note on Monday. They issued an “outperform” rating and a $40.00 price objective on the stock. Guggenheim started coverage on Parabilis Medicines in a research note on Monday. They issued a “buy” rating and a $40.00 price target for the company. Finally, Wall Street Zen upgraded Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $41.67.

Parabilis Medicines Trading Down 2.8%

Shares of NASDAQ PBLS opened at $28.39 on Monday. Parabilis Medicines has a 52-week low of $24.51 and a 52-week high of $34.47.

Insider Activity at Parabilis Medicines

In related news, major shareholder Guy Levy bought 500,000 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 $10,000,000.00. Following the transaction, the insider directly owned 1,027,000 shares of the company’s stock, valued at approximately $20,540,000. The trade was a 94.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Sebulsky purchased 9,065 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought at an average cost of $26.49 per share, with a total value of $240,131.85. Following the completion of the purchase, the director owned 30,000 shares of the company’s stock, valued at approximately $794,700. This represents a 43.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 530,000 shares of company stock valued at $10,723,528 in the last ninety days.