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

Zacks Investment Research upgraded shares of Panbela Therapeutics (NASDAQ:PBLA – Get Rating) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com 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 topic of a number of other reports. Maxim Group started coverage on Panbela Therapeutics in a research note on Friday, May 13th. They issued a buy rating and a $5.00 price target on the stock. Craig Hallum raised their target price on Panbela Therapeutics from $9.00 to $13.00 in a report on Wednesday, February 23rd.

Shares of PBLA opened at $1.45 on Tuesday. The business’s fifty day simple moving average is $1.82 and its two-hundred day simple moving average is $1.86. Panbela Therapeutics has a 12 month low of $1.45 and a 12 month high of $4.78. The company has a market cap of $19.50 million, a price-to-earnings ratio of -1.59 and a beta of 0.27.

Panbela Therapeutics (NASDAQ:PBLA – Get Rating) last released its quarterly 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 period in the previous year, the firm posted ($0.23) earnings per share. Equities analysts expect that Panbela Therapeutics will post -0.81 earnings per share for the current fiscal year.

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

About Panbela Therapeutics (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.

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