Cowen & Co. Thinks Phasebio Pharmaceuticals Inc’s Stock is Going to Recover
In a report issued on November 29, Phil Nadeau from Cowen & Co. maintained a Buy rating on Phasebio Pharmaceuticals Inc (PHAS). The company’s shares closed yesterday at $2.85, close to its 52-week low of $2.55.
According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 6.7% and a 49.6% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Rocket Pharmaceuticals Inc, and Allogene Therapeutics Inc.
Currently, the analyst consensus on Phasebio Pharmaceuticals Inc is a Moderate Buy with an average price target of $14.
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Based on Phasebio Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.67 million. In comparison, last year the company had a GAAP net loss of $2.82 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PHAS in relation to earlier this year.
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PhaseBio Pharmaceuticals, Inc. engages in the development and commercialization of biotherapeutics for the treatment of orphan diseases. It focuses on cardiopulmonary disorders. The company was founded by Ashutosh Chilkoti and Clay Bernardin Thorp in January 2002 and is headquartered in Malvern, PA.