PhaseBio Pharmaceuticals (PHAS) Posts Earnings Results, Misses Expectations By $10.23 EPS

PhaseBio Pharmaceuticals (NASDAQ:PHAS) released its quarterly earnings data on Thursday. The company reported ($10.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($10.23), Fidelity Earnings reports. The firm had revenue of $0.41 million during the quarter.

PHAS opened at $2.85 on Friday. PhaseBio Pharmaceuticals has a 12-month low of $2.55 and a 12-month high of $6.00.

In other news, major shareholder Venture Advisors Iii Hatteras purchased 300,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was acquired at an average cost of $5.00 per share, with a total value of $1,500,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Linda Tufts purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The shares were purchased at an average cost of $5.00 per share, with a total value of $100,000.00. The disclosure for this purchase can be found here.

A number of research firms have recently issued reports on PHAS. Citigroup began coverage on PhaseBio Pharmaceuticals in a research report on Monday, November 12th. They issued a “buy” rating and a $18.00 price objective for the company. Stifel Nicolaus began coverage on PhaseBio Pharmaceuticals in a research report on Monday, November 12th. They issued a “buy” rating and a $14.00 price objective for the company. Cowen began coverage on PhaseBio Pharmaceuticals in a research report on Monday, November 12th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC began coverage on PhaseBio Pharmaceuticals in a research report on Tuesday, November 13th. They issued a “buy” rating and a $18.00 price objective for the company.

COPYRIGHT VIOLATION WARNING: This article was first posted by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.wkrb13.com/2018/12/01/phasebio-pharmaceuticals-phas-posts-earnings-results-misses-expectations-by-10-23-eps.html.

About PhaseBio Pharmaceuticals

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: The Structure of a Futures Contract

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.

Leave a Reply