PhaseBio Pharmaceuticals (PHAS) Lowered to Sell at Zacks Investment Research
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.
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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