Brokerages Set PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) Target Price at $11.00
Shares of PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $11.00.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 12th. ValuEngine upgraded PhaseBio Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Citigroup lowered their price target on PhaseBio Pharmaceuticals from $25.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $4.00 price target on shares of PhaseBio Pharmaceuticals in a research report on Tuesday, May 5th.
Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in PhaseBio Pharmaceuticals by 107.0% in the first quarter. Wells Fargo & Company MN now owns 16,832 shares of the company’s stock worth $55,000 after purchasing an additional 8,699 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter worth $67,000. Virtu Financial LLC acquired a new position in PhaseBio Pharmaceuticals in the fourth quarter worth $82,000. Acadian Asset Management LLC boosted its stake in PhaseBio Pharmaceuticals by 179.4% in the fourth quarter. Acadian Asset Management LLC now owns 13,799 shares of the company’s stock worth $84,000 after purchasing an additional 8,860 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of PhaseBio Pharmaceuticals by 39.8% during the fourth quarter. UBS Group AG now owns 18,059 shares of the company’s stock valued at $110,000 after acquiring an additional 5,139 shares during the period. 67.64% of the stock is currently owned by institutional investors.
PhaseBio Pharmaceuticals (NASDAQ:PHAS) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.10). The firm had revenue of $0.32 million for the quarter, compared to the consensus estimate of $0.38 million. PhaseBio Pharmaceuticals had a negative net margin of 1,662.30% and a negative return on equity of 61.21%. Equities analysts forecast that PhaseBio Pharmaceuticals will post -1.86 earnings per share for the current fiscal year.
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.
Further Reading: What is the accumulation/distribution indicator?
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.