PhaseBio Pharmaceuticals (NASDAQ:PHAS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) from a buy rating to a hold rating in a research report sent to investors 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 target price on shares of PhaseBio Pharmaceuticals and gave the stock a buy rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $17.75.

Shares of NASDAQ PHAS opened at $11.22 on Thursday. PhaseBio Pharmaceuticals has a twelve month low of $2.55 and a twelve month high of $16.65. The business’s fifty day moving average price is $11.79. The company has a market capitalization of $274.87 million and a P/E ratio of -2.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 14.24 and a quick ratio of 14.24.

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

In other PhaseBio Pharmaceuticals news, Director Clay Thorp sold 2,908 shares of PhaseBio Pharmaceuticals stock in a transaction on Monday, July 1st. The shares were sold at an average price of $14.00, for a total value of $40,712.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of PhaseBio Pharmaceuticals during the 4th quarter valued at $79,000. Citigroup Inc. acquired a new position in shares of PhaseBio Pharmaceuticals during the 4th quarter valued at $351,000. United Services Automobile Association acquired a new position in shares of PhaseBio Pharmaceuticals during the 4th quarter valued at $286,000. Millennium Management LLC acquired a new position in shares of PhaseBio Pharmaceuticals during the 4th quarter valued at $411,000. Finally, Tibra Equities Europe Ltd acquired a new position in shares of PhaseBio Pharmaceuticals during the 1st quarter valued at $217,000. 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.

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