Panbela Therapeutics (NASDAQ:PBLA) Upgraded by Zacks Investment Research to Hold

Panbela Therapeutics (NASDAQ:PBLAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, reports.

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. “

PBLA has been the subject of several other reports. Maxim Group initiated coverage on shares of Panbela Therapeutics in a research note on Friday, May 13th. They issued a “buy” rating and a $5.00 target price for the company. Craig Hallum upped their target price on shares of Panbela Therapeutics from $9.00 to $13.00 in a research note on Wednesday, February 23rd.

Panbela Therapeutics stock opened at $1.52 on Tuesday. Panbela Therapeutics has a 1 year low of $1.45 and a 1 year high of $4.78. The firm has a 50 day moving average price of $1.83 and a 200 day moving average price of $1.86. The company has a market cap of $20.44 million, a price-to-earnings ratio of -1.67 and a beta of 0.27.

Panbela Therapeutics (NASDAQ:PBLAGet Rating) last released its earnings results on Thursday, May 12th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). During the same quarter in the previous year, the firm posted ($0.23) EPS. As a group, analysts anticipate that Panbela Therapeutics will post -0.81 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Panbela Therapeutics by 22.2% in the third quarter. BlackRock Inc. now owns 29,359 shares of the company’s stock valued at $64,000 after buying an additional 5,339 shares during the last quarter. Citadel Advisors LLC bought a new stake in Panbela Therapeutics in the third quarter valued at about $43,000. Goldman Sachs Group Inc. bought a new stake in Panbela Therapeutics in the third quarter valued at about $52,000. Finally, Millennium Management LLC bought a new stake in Panbela Therapeutics in the third quarter valued at about $72,000. 7.12% of the stock is owned by hedge funds and other institutional investors.

Panbela Therapeutics Company Profile (Get Rating)

Panbela Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing disruptive therapeutics for the treatment of patients with cancer. The company focuses on diseases of the pancreas, including pancreatitis and pancreatic cancer, as well as neoadjuvant pancreatic cancer, colorectal cancer, ovarian cancer, and other agents in other cancer indications.

Further Reading

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