Jefferies Financial Group Weighs in on Pardes Biosciences, Inc.’s Q1 2023 Earnings (NASDAQ:PRDS)

Pardes Biosciences, Inc. (NASDAQ:PRDS – Get Rating) – Equities research analysts at Jefferies Financial Group decreased their Q1 2023 earnings per share estimates for shares of Pardes Biosciences in a research report issued to clients and investors on Tuesday, March 14th. Jefferies Financial Group analyst D. Ding now forecasts that the company will earn ($0.40) per share for the quarter, down from their prior estimate of ($0.37). The consensus estimate for Pardes Biosciences’ current full-year earnings is ($1.58) per share. Jefferies Financial Group also issued estimates for Pardes Biosciences’ Q2 2023 earnings at ($0.31) EPS, Q3 2023 earnings at ($0.34) EPS, Q4 2023 earnings at ($0.39) EPS, FY2023 earnings at ($1.43) EPS, FY2024 earnings at ($1.79) EPS and FY2025 earnings at ($0.58) EPS.

Several other research firms have also recently weighed in on PRDS. JMP Securities reduced their price objective on Pardes Biosciences from $9.00 to $5.00 and set a “market outperform” rating for the company in a research report on Wednesday. SVB Leerink reduced their price objective on Pardes Biosciences from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, January 27th.

Pardes Biosciences Price Performance

Shares of Pardes Biosciences stock opened at $1.32 on Friday. The firm has a market cap of $81.47 million, a price-to-earnings ratio of -0.79 and a beta of 0.36. The stock’s 50-day moving average is $1.69 and its 200-day moving average is $1.67. Pardes Biosciences has a one year low of $0.75 and a one year high of $8.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Pardes Biosciences during the first quarter worth about $75,000. American International Group Inc. bought a new stake in Pardes Biosciences during the second quarter worth about $41,000. Virtu Financial LLC bought a new stake in Pardes Biosciences during the third quarter worth about $25,000. Dynamic Technology Lab Private Ltd bought a new stake in Pardes Biosciences during the first quarter worth about $105,000. Finally, JPMorgan Chase & Co. bought a new stake in Pardes Biosciences during the second quarter worth about $47,000.

About Pardes Biosciences

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Pardes Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics to improve the lives of patients suffering from life-threatening disease. Its lead candidate is the PBI-0451 that is in clinical development stage to treat and prevent severe acute respiratory syndrome coronavirus 2 infections and associated diseases.