Brokerages Set PhaseBio Pharmaceuticals Inc (PHAS) PT at $16.67

PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS) has been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $16.67.

Several equities analysts recently weighed in on PHAS shares. Zacks Investment Research lowered shares of PhaseBio Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. ValuEngine lowered shares of PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter valued at approximately $79,000. Tibra Equities Europe Ltd bought a new position in shares of PhaseBio Pharmaceuticals in the first quarter valued at approximately $217,000. United Services Automobile Association bought a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter valued at approximately $286,000. Citigroup Inc. bought a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter valued at approximately $351,000. Finally, Millennium Management LLC bought a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter valued at approximately $411,000. 28.17% of the stock is currently owned by hedge funds and other institutional investors.

PHAS traded down $0.40 during midday trading on Wednesday, hitting $14.10. 196,300 shares of the company’s stock traded hands, compared to its average volume of 378,862. The firm has a market cap of $355.25 million and a PE ratio of -3.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.68 and a current ratio of 13.68. PhaseBio Pharmaceuticals has a one year low of $2.55 and a one year high of $16.65.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last issued its quarterly earnings data on Tuesday, March 26th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.03. The business had revenue of $0.26 million for the quarter. On average, sell-side analysts anticipate that PhaseBio Pharmaceuticals will post -2.03 earnings per share for the current fiscal year.

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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