PhaseBio Pharmaceuticals (NASDAQ:PHAS) announced its quarterly earnings results on Tuesday. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.03, Morningstar.com reports. The business had revenue of $0.26 million during the quarter.

PHAS opened at $8.42 on Thursday. PhaseBio Pharmaceuticals has a 12-month low of $2.55 and a 12-month high of $9.17. The stock has a market cap of $206.29 million and a P/E ratio of -1.88.

Separately, ValuEngine lowered PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. PhaseBio Pharmaceuticals has an average rating of “Buy” and an average price target of $16.67.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in PhaseBio Pharmaceuticals during the 4th quarter worth about $79,000. United Services Automobile Association acquired a new position in PhaseBio Pharmaceuticals during the 4th quarter worth about $286,000. Citigroup Inc. acquired a new position in PhaseBio Pharmaceuticals during the 4th quarter worth about $351,000. Finally, Millennium Management LLC acquired a new position in PhaseBio Pharmaceuticals during the 4th quarter worth about $411,000. 28.07% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was first posted by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.watchlistnews.com/phasebio-pharmaceuticals-phas-releases-quarterly-earnings-results-beats-estimates-by-0-03-eps/2923534.html.

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.

Read More: What is Cost of Debt?

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.