PhaseBio Pharmaceuticals (NASDAQ:PHAS) Stock Price Up 7.2%

PhaseBio Pharmaceuticals Inc (NASDAQ:PHAS)’s stock price rose 7.2% during trading on Wednesday . The stock traded as high as $3.84 and last traded at $3.59, approximately 673,200 shares traded hands during mid-day trading. An increase of 128% from the average daily volume of 294,905 shares. The stock had previously closed at $3.35.

A number of analysts have recently weighed in on PHAS shares. Zacks Investment Research downgraded shares of PhaseBio Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. HC Wainwright started coverage on shares of PhaseBio Pharmaceuticals in a research note on Thursday, October 3rd. They issued a “buy” rating and a $18.00 price objective on the stock. Cowen reissued a “buy” rating on shares of PhaseBio Pharmaceuticals in a research note on Tuesday, September 24th. Stifel Nicolaus lowered their price objective on shares of PhaseBio Pharmaceuticals from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, William Blair restated an “outperform” rating on shares of PhaseBio Pharmaceuticals in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $17.56.

The company has a quick ratio of 16.52, a current ratio of 16.51 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $4.01 and a two-hundred day moving average of $8.13. The firm has a market capitalization of $101.83 million and a price-to-earnings ratio of -0.80.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last issued its earnings results on Thursday, November 14th. The company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.04). The business had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.35 million. PhaseBio Pharmaceuticals had a negative return on equity of 55.69% and a negative net margin of 1,768.29%. Sell-side analysts forecast that PhaseBio Pharmaceuticals Inc will post -1.39 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in PHAS. Strs Ohio acquired a new position in PhaseBio Pharmaceuticals during the 2nd quarter worth approximately $48,000. TD Asset Management Inc. increased its holdings in shares of PhaseBio Pharmaceuticals by 26.9% during the second quarter. TD Asset Management Inc. now owns 40,343 shares of the company’s stock worth $529,000 after buying an additional 8,555 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of PhaseBio Pharmaceuticals during the second quarter worth $211,000. JPMorgan Chase & Co. bought a new position in shares of PhaseBio Pharmaceuticals in the 2nd quarter valued at $48,000. Finally, NEA Management Company LLC bought a new position in shares of PhaseBio Pharmaceuticals in the 2nd quarter valued at $87,165,000. 66.33% of the stock is currently owned by institutional investors.

About PhaseBio Pharmaceuticals (NASDAQ:PHAS)

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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