Zacks Investment Research upgraded shares of Panbela Therapeutics (NASDAQ:PBLA) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $2.50 target price on the stock.
According to Zacks, “Panbela Therapeutics Inc. is a clinical-stage biopharmaceutical company. It engages in developing disruptive therapeutics for patients with urgent unmet medical needs. The company’s initial product candidate, SBP-101, is for the treatment of patients with metastatic pancreatic ductal adenocarcinoma, the most common type of pancreatic cancer. Panbela Therapeutics Inc., formerly known as Sun BioPharma Inc., is based in MINNEAPOLIS. “
Separately, Roth Capital started coverage on shares of Panbela Therapeutics in a research report on Monday, June 28th. They issued a buy rating and a $10.00 target price for the company.
Panbela Therapeutics (NASDAQ:PBLA) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. Equities analysts expect that Panbela Therapeutics will post -0.85 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in PBLA. Ikarian Capital LLC bought a new position in shares of Panbela Therapeutics during the 1st quarter valued at $1,363,000. Squarepoint Ops LLC bought a new position in shares of Panbela Therapeutics during the 1st quarter valued at $61,000. Buckingham Strategic Wealth LLC bought a new position in Panbela Therapeutics in the 2nd quarter worth $71,000. CVI Holdings LLC bought a new position in Panbela Therapeutics in the 2nd quarter worth $118,000. Finally, Vanguard Group Inc. raised its holdings in Panbela Therapeutics by 941.8% in the 2nd quarter. Vanguard Group Inc. now owns 217,198 shares of the company’s stock worth $615,000 after acquiring an additional 196,349 shares during the period. Institutional investors and hedge funds own 8.37% of the company’s stock.
Panbela Therapeutics Company Profile
Panbela Therapeutics, Inc engages in the development of disruptive therapeutics for medical purposes. It focuses on development programs that target diseases of the pancreas, including pancreatic cancer and pancreatitis. The firm’s product candidate, SBP-101, is a proprietary polyamine analogue designed to induce polyamine metabolic inhibition (PMI), a metabolic pathway of critical importance in multiple tumor types.
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