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
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
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.
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