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 cut shares of PhaseBio Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. PhaseBio Pharmaceuticals currently has an average rating of Buy and an average price target of $16.67.
PhaseBio Pharmaceuticals (NASDAQ:PHAS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.14. The firm had revenue of $0.65 million during the quarter, compared to analysts’ expectations of $0.12 million. On average, analysts anticipate that PhaseBio Pharmaceuticals will post -2.03 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in shares of PhaseBio Pharmaceuticals in the fourth quarter worth approximately $411,000. Citigroup Inc. bought a new position in PhaseBio Pharmaceuticals during the fourth quarter valued at approximately $351,000. United Services Automobile Association bought a new position in PhaseBio Pharmaceuticals during the fourth quarter valued at approximately $286,000. BlackRock Inc. grew its position in PhaseBio Pharmaceuticals by 78.8% during the first quarter. BlackRock Inc. now owns 45,261 shares of the company’s stock valued at $430,000 after acquiring an additional 19,952 shares during the last quarter. Finally, Tibra Equities Europe Ltd bought a new position in PhaseBio Pharmaceuticals during the first quarter valued at approximately $217,000. Institutional investors own 28.17% of the company’s stock.
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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