Zacks Investment Research lowered shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) from a hold rating to a sell rating in a research report released on Wednesday morning, 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, ValuEngine cut PhaseBio Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. PhaseBio Pharmaceuticals currently has a consensus rating of Buy and a consensus price target of $16.67.

Shares of PHAS traded down $0.18 during mid-day trading on Wednesday, hitting $12.70. 1,550 shares of the stock were exchanged, compared to its average volume of 1,067,936. The stock has a market capitalization of $357.92 million and a price-to-earnings ratio of -2.81. PhaseBio Pharmaceuticals has a 52-week low of $2.55 and a 52-week high of $16.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.68 and a quick ratio of 13.68.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. The firm had revenue of $0.26 million for the quarter. On average, sell-side analysts expect that PhaseBio Pharmaceuticals will post -2.03 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter worth about $79,000. Tibra Equities Europe Ltd acquired a new stake in PhaseBio Pharmaceuticals during the first quarter worth about $217,000. United Services Automobile Association acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter worth about $286,000. Citigroup Inc. acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter worth about $351,000. Finally, Millennium Management LLC acquired a new stake in PhaseBio Pharmaceuticals during the fourth quarter worth about $411,000. Hedge funds and other institutional investors own 28.07% of the company’s stock.

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.

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