PhaseBio Pharmaceuticals (NASDAQ:PHAS) Downgraded to Hold at Zacks Investment Research


Share on StockTwits

Zacks Investment Research downgraded shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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. “

NASDAQ:PHAS traded up $0.39 during trading hours on Wednesday, reaching $4.37. The company had a trading volume of 13,551 shares, compared to its average volume of 314,920. PhaseBio Pharmaceuticals has a 1-year low of $2.60 and a 1-year high of $6.85. The firm has a market cap of $128.33 million, a PE ratio of -1.88 and a beta of 1.62. The business’s 50 day moving average price is $3.88 and its 200-day moving average price is $3.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.58 and a quick ratio of 3.58.

PhaseBio Pharmaceuticals (NASDAQ:PHAS) last posted its quarterly earnings data on Thursday, November 12th. The company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.09). PhaseBio Pharmaceuticals had a negative net margin of 2,310.60% and a negative return on equity of 124.88%. On average, analysts expect that PhaseBio Pharmaceuticals will post -3.09 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in PhaseBio Pharmaceuticals by 73.5% in the 2nd quarter. Bank of America Corp DE now owns 7,171 shares of the company’s stock valued at $33,000 after buying an additional 3,038 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PhaseBio Pharmaceuticals by 10.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,648 shares of the company’s stock valued at $187,000 after purchasing an additional 3,849 shares during the last quarter. Platform Technology Partners lifted its stake in shares of PhaseBio Pharmaceuticals by 72.2% in the 3rd quarter. Platform Technology Partners now owns 92,950 shares of the company’s stock valued at $326,000 after purchasing an additional 38,976 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of PhaseBio Pharmaceuticals in the 3rd quarter valued at $542,000. Finally, State Street Corp lifted its stake in shares of PhaseBio Pharmaceuticals by 16.5% in the 3rd quarter. State Street Corp now owns 300,757 shares of the company’s stock valued at $1,056,000 after purchasing an additional 42,674 shares during the last quarter. Hedge funds and other institutional investors own 62.54% of the company’s stock.

PhaseBio Pharmaceuticals Company Profile

PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel for cardiopulmonary diseases. Its lead product candidate is PB2452, a reversal agent for the antiplatelet drug ticagrelor that is in Phase III clinical trial for patients experiencing uncontrolled bleeding events or in patients requiring urgent or emergency surgery.

Read More: Put Option

Get a free copy of the Zacks research report on PhaseBio Pharmaceuticals (PHAS)

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.