PhaseBio Pharmaceuticals (NASDAQ:PHAS) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) from a sell rating to a hold rating in a report released on Saturday, 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. “

PHAS has been the topic of a number of other research reports. Citigroup cut their target price on PhaseBio Pharmaceuticals from $12.00 to $10.00 in a research note on Tuesday, August 25th. Stifel Nicolaus reaffirmed a buy rating and set a $11.00 target price on shares of PhaseBio Pharmaceuticals in a research note on Tuesday, August 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $12.35.

Shares of NASDAQ PHAS opened at $3.62 on Friday. The business’s 50 day moving average is $3.34 and its two-hundred day moving average is $4.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 3.58. PhaseBio Pharmaceuticals has a 1-year low of $2.60 and a 1-year high of $8.49. The stock has a market capitalization of $106.30 million, a P/E ratio of -1.58 and a beta of 1.62.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last released its earnings results on Thursday, November 12th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.09). PhaseBio Pharmaceuticals had a negative net margin of 2,310.60% and a negative return on equity of 124.88%. As a group, equities research analysts anticipate that PhaseBio Pharmaceuticals will post -3.09 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in PhaseBio Pharmaceuticals by 73.5% during the second quarter. Bank of America Corp DE now owns 7,171 shares of the company’s stock worth $33,000 after buying an additional 3,038 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of PhaseBio Pharmaceuticals during the 2nd quarter valued at $52,000. Leap Investments LP purchased a new stake in shares of PhaseBio Pharmaceuticals during the 2nd quarter valued at $73,000. Wells Fargo & Company MN lifted its holdings in shares of PhaseBio Pharmaceuticals by 107.0% during the 1st quarter. Wells Fargo & Company MN now owns 16,832 shares of the company’s stock valued at $55,000 after purchasing an additional 8,699 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of PhaseBio Pharmaceuticals by 7.7% during the 2nd quarter. First Trust Advisors LP now owns 30,008 shares of the company’s stock valued at $138,000 after purchasing an additional 2,133 shares during the last quarter. Institutional investors own 62.54% of the company’s stock.

About PhaseBio Pharmaceuticals

PhaseBio Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapies for cardiopulmonary diseases. The company was founded by Ashutosh Chilkoti and Clay Bernardin Thorp in January 2002 and is headquartered in Malvern, PA.

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