Parabilis Medicines (NASDAQ:PBLS) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Parabilis Medicines (NASDAQ:PBLS) announced its earnings results on Thursday. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.04, FiscalAI reports. The firm had revenue of $2.11 million for the quarter.

Parabilis Medicines Stock Performance

NASDAQ PBLS traded down $1.67 during trading hours on Thursday, hitting $27.98. 412,325 shares of the company were exchanged, compared to its average volume of 810,875. The firm has a market capitalization of $3.46 billion and a price-to-earnings ratio of -13.14. The company’s 50 day simple moving average is $31.36. Parabilis Medicines has a 52-week low of $22.66 and a 52-week high of $42.49.

Wall Street Analysts Forecast Growth

PBLS has been the topic of a number of recent research reports. Canaccord Genuity Group assumed coverage on shares of Parabilis Medicines in a research note on Monday. They set a “buy” rating and a $39.00 price target on the stock. HC Wainwright began coverage on shares of Parabilis Medicines in a research note on Thursday, October 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Weiss Ratings cut shares of Parabilis Medicines from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.80.

Hedge Funds Weigh In On Parabilis Medicines

Institutional investors and hedge funds have recently made changes to their positions in the stock. ARCH Venture Management LLC acquired a new stake in Parabilis Medicines in the second quarter valued at approximately $175,517,789. venBio Partners LLC purchased a new stake in shares of Parabilis Medicines in the 2nd quarter valued at approximately $144,149,497. Alphabet Inc. purchased a new stake in shares of Parabilis Medicines in the 2nd quarter valued at approximately $134,647,000. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Parabilis Medicines in the 2nd quarter valued at approximately $114,042,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Parabilis Medicines in the 2nd quarter valued at $62,710,000.

About Parabilis Medicines

Parabilis Medicines is a clinical-stage biopharmaceutical company developing medicines for diseases driven by proteins that have been difficult to target with conventional drugs. Its research focuses on macrocyclic peptides designed to address challenging protein interactions, including targets relevant to cancer. The company uses its proprietary Helicon platform to design these peptide-based drug candidates. Parabilis is based in Cambridge, Massachusetts, and was formerly known as Peptone. Parabilis was founded by Gregory Verdine, who serves as the company’s chief executive officer.