Zacks Investment Research Lowers PhaseBio Pharmaceuticals (NASDAQ:PHAS) to Hold

Share on StockTwits

Zacks Investment Research downgraded shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

According to Zacks, “PhaseBio Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It focuses on the development and commercialization of novel therapies to treat orphan diseases with an initial focus on cardiopulmonary indications. The company’s product consists of PB2452, a novel reversal agent for the antiplatelet drug ticagrelor and PB1046, a once-weekly fusion protein for the treatment of pulmonary arterial hypertension, which are in clinical stage. PhaseBio Pharmaceuticals Inc. is based in Malvern, United States. “

Separately, Citigroup set a $27.00 price objective on PhaseBio Pharmaceuticals and gave the company a buy rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $17.75.

Shares of PhaseBio Pharmaceuticals stock opened at $11.22 on Thursday. The firm has a market capitalization of $274.87 million and a PE ratio of -2.50. The stock has a fifty day simple moving average of $11.79. The company has a current ratio of 14.24, a quick ratio of 14.24 and a debt-to-equity ratio of 0.19. PhaseBio Pharmaceuticals has a 12 month low of $2.55 and a 12 month high of $16.65.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last issued its earnings results on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.14. The business had revenue of $0.65 million during the quarter, compared to analyst estimates of $0.12 million. As a group, research analysts anticipate that PhaseBio Pharmaceuticals will post -1.47 earnings per share for the current fiscal year.

In related news, Director Clay Thorp sold 2,908 shares of PhaseBio Pharmaceuticals stock in a transaction on Monday, July 1st. The stock was sold at an average price of $14.00, for a total transaction of $40,712.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.00% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter valued at $79,000. Millennium Management LLC acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter valued at $411,000. United Services Automobile Association acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter valued at $286,000. Tibra Equities Europe Ltd acquired a new stake in PhaseBio Pharmaceuticals during the first quarter valued at $217,000. Finally, Citigroup Inc. acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter valued at $351,000. 28.27% of the stock is owned by hedge funds and other institutional investors.

PhaseBio Pharmaceuticals Company Profile

PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapies to treat orphan diseases with an initial focus on cardiopulmonary indications. Its lead product candidate, PB2452, is a reversal agent for the antiplatelet drug ticagrelor that has completed a Phase 1 clinical trial and is been developed for the treatment of patients on ticagrelor who are experiencing a major bleeding event or those who require urgent surgery.

Recommended Story: Diversification

Get a free copy of the Zacks research report on PhaseBio Pharmaceuticals (PHAS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PhaseBio Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PhaseBio Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Brokerages Expect Keurig Dr Pepper Inc  to Announce $0.29 Earnings Per Share
Brokerages Expect Keurig Dr Pepper Inc to Announce $0.29 Earnings Per Share
Natural Gas Services Group, Inc.  Expected to Post Earnings of $0.04 Per Share
Natural Gas Services Group, Inc. Expected to Post Earnings of $0.04 Per Share
Northwest Bancshares, Inc.  Expected to Announce Earnings of $0.28 Per Share
Northwest Bancshares, Inc. Expected to Announce Earnings of $0.28 Per Share
ManpowerGroup  Releases Q3 Earnings Guidance
ManpowerGroup Releases Q3 Earnings Guidance
UnitedHealth Group  Issues FY19 Earnings Guidance
UnitedHealth Group Issues FY19 Earnings Guidance
TheStreet Upgrades First Majestic Silver  to “C-“
TheStreet Upgrades First Majestic Silver to “C-“


 
© 2006-2019 Zolmax.