Parabilis Medicines (NASDAQ:PBLS) Coverage Initiated at Bank of America

Investment analysts at Bank of America assumed coverage on shares of Parabilis Medicines (NASDAQ:PBLS) in a research report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $45.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 52.13% from the company’s previous close.

Several other research firms have also issued reports on PBLS. Guggenheim assumed coverage on Parabilis Medicines in a research note on Monday. They issued a “buy” rating for the company. Leerink Partners assumed coverage on Parabilis Medicines in a research report on Monday. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Wall Street Zen upgraded shares of Parabilis Medicines to a “hold” rating in a research report on Saturday, June 20th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $42.50.

Parabilis Medicines Price Performance

Parabilis Medicines stock opened at $29.58 on Monday. Parabilis Medicines has a twelve month low of $24.51 and a twelve month high of $34.47.

Insider Buying and Selling at Parabilis Medicines

In other Parabilis Medicines news, Director Alan Sebulsky bought 12,500 shares of Parabilis Medicines stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Guy Levy purchased 500,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $20.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 530,000 shares of company stock worth $10,723,528 in the last ninety days.