William Blair reiterated their outperform rating on shares of PhaseBio Pharmaceuticals (NASDAQ:PHAS) in a report published on Wednesday, Briefing.com Automated Import reports. William Blair also issued estimates for PhaseBio Pharmaceuticals’ Q3 2019 earnings at ($0.41) EPS, Q4 2019 earnings at ($0.45) EPS, FY2019 earnings at ($1.50) EPS, FY2020 earnings at ($2.12) EPS, FY2021 earnings at ($2.67) EPS, FY2022 earnings at ($3.51) EPS and FY2023 earnings at ($4.60) EPS.
Several other equities research analysts have also weighed in on PHAS. Zacks Investment Research upgraded PhaseBio Pharmaceuticals from a hold rating to a buy rating and set a $8.25 price target on the stock in a research report on Tuesday, August 20th. Citigroup set a $27.00 price target on PhaseBio Pharmaceuticals and gave the company a buy rating in a research report on Friday, May 24th. ValuEngine upgraded PhaseBio Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus dropped their price target on PhaseBio Pharmaceuticals from $20.00 to $17.00 and set a buy rating on the stock in a research report on Monday, September 9th. Seven research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $17.56.
Shares of NASDAQ PHAS traded up $0.24 during mid-day trading on Wednesday, hitting $5.37. 66,683 shares of the stock traded hands, compared to its average volume of 159,800. The company has a current ratio of 16.51, a quick ratio of 16.52 and a debt-to-equity ratio of 0.12. PhaseBio Pharmaceuticals has a 52 week low of $2.55 and a 52 week high of $16.65. The stock has a fifty day moving average price of $7.52 and a 200-day moving average price of $9.62.
In other PhaseBio Pharmaceuticals news, Director Clay Thorp sold 2,908 shares of PhaseBio Pharmaceuticals stock in a transaction on Monday, July 1st. The stock was sold at an average price of $14.00, for a total transaction of $40,712.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.00% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. River & Mercantile Asset Management LLP purchased a new position in PhaseBio Pharmaceuticals during the second quarter valued at $262,000. United Services Automobile Association raised its stake in PhaseBio Pharmaceuticals by 15.8% during the second quarter. United Services Automobile Association now owns 107,267 shares of the company’s stock valued at $1,407,000 after buying an additional 14,653 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in PhaseBio Pharmaceuticals by 22.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 796,236 shares of the company’s stock valued at $10,447,000 after buying an additional 144,535 shares during the last quarter. Morgan Stanley raised its stake in PhaseBio Pharmaceuticals by 3,673.8% during the second quarter. Morgan Stanley now owns 84,194 shares of the company’s stock valued at $1,104,000 after buying an additional 81,963 shares during the last quarter. Finally, Cormorant Asset Management LP raised its stake in PhaseBio Pharmaceuticals by 7.9% during the second quarter. Cormorant Asset Management LP now owns 906,229 shares of the company’s stock valued at $11,890,000 after buying an additional 66,587 shares during the last quarter. Institutional investors and hedge funds own 65.70% 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 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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