PhaseBio Pharmaceuticals (PHAS) Downgraded by 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 downgraded shares of PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. PhaseBio Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $16.67.
PhaseBio Pharmaceuticals (NASDAQ:PHAS) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.14. The business had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $0.12 million. On average, research analysts anticipate that PhaseBio Pharmaceuticals will post -1.47 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of PHAS. Wellington Management Group LLP increased its position in shares of PhaseBio Pharmaceuticals by 1.7% during the first quarter. Wellington Management Group LLP now owns 3,429,779 shares of the company’s stock valued at $32,617,000 after acquiring an additional 58,819 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of PhaseBio Pharmaceuticals during the fourth quarter valued at about $411,000. Citigroup Inc. acquired a new stake in shares of PhaseBio Pharmaceuticals during the fourth quarter valued at about $351,000. United Services Automobile Association acquired a new stake in shares of PhaseBio Pharmaceuticals during the fourth quarter valued at about $286,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of PhaseBio Pharmaceuticals during the first quarter valued at about $600,000. 28.17% of the stock is currently owned by 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.
Featured Story: Economic Reports
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.