PhaseBio Pharmaceuticals (NASDAQ:PHAS – Get Rating) was downgraded by stock analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a report released on Wednesday, The Fly reports. They presently have a $1.00 price target on the stock, down from their prior price target of $15.00. Stifel Nicolaus' price objective suggests a potential upside of 426.32% from the company's previous close.
PHAS has been the subject of several other research reports. Needham & Company LLC cut shares of PhaseBio Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Wednesday. William Blair lowered shares of PhaseBio Pharmaceuticals from an "outperform" rating to a "market perform" rating in a report on Wednesday.
Get PhaseBio Pharmaceuticals alerts:PhaseBio Pharmaceuticals Price Performance
PHAS stock opened at $0.19 on Wednesday. The company has a 50 day moving average price of $1.07 and a 200 day moving average price of $1.01. PhaseBio Pharmaceuticals has a fifty-two week low of $0.17 and a fifty-two week high of $4.10. The stock has a market capitalization of $9.47 million, a PE ratio of -0.09 and a beta of 2.45.
PhaseBio Pharmaceuticals (NASDAQ:PHAS – Get Rating) last posted its quarterly earnings data on Friday, August 12th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to analysts' expectations of $2.50 million. As a group, equities analysts expect that PhaseBio Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.Institutional Trading of PhaseBio Pharmaceuticals
Institutional investors have recently bought and sold shares of the business. Resources Investment Advisors LLC. grew its holdings in shares of PhaseBio Pharmaceuticals by 48.6% in the 1st quarter. Resources Investment Advisors LLC. now owns 113,150 shares of the company's stock valued at $149,000 after buying an additional 37,000 shares during the period. Towercrest Capital Management acquired a new position in shares of PhaseBio Pharmaceuticals in the 1st quarter valued at $1,389,000. MAI Capital Management acquired a new position in shares of PhaseBio Pharmaceuticals in the 1st quarter valued at $1,872,000. Rock Springs Capital Management LP grew its holdings in shares of PhaseBio Pharmaceuticals by 1.3% in the 1st quarter. Rock Springs Capital Management LP now owns 2,613,825 shares of the company's stock valued at $3,450,000 after buying an additional 32,526 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of PhaseBio Pharmaceuticals in the 1st quarter valued at $118,000. Institutional investors and hedge funds own 49.02% of the company's stock.
About PhaseBio Pharmaceuticals
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PhaseBio Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel for cardiovascular diseases. Its lead product candidate is bentracimab (PB2452), a reversal agent for the antiplatelet drug ticagrelor that is in Phase III clinical trial for patients with uncontrolled major or life-threatening bleeding events or in patients requiring urgent or an invasive procedure.
Further Reading
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