Needham Assigns a Buy Rating on Phasebio Pharmaceuticals (PHAS)
In a report released today, Chad Messer from Needham assigned a Buy rating to Phasebio Pharmaceuticals (PHAS), with a price target of $18.00. The company’s shares closed last Friday at $3.27, close to its 52-week low of $2.60.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 10.4% and a 47.0% success rate. Messer covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics, Ionis Pharmaceuticals, and Sarepta Therapeutics.
Currently, the analyst consensus on Phasebio Pharmaceuticals is a Strong Buy with an average price target of $14.25.
See today’s analyst top recommended stocks >>
Based on Phasebio Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $28.14 million. In comparison, last year the company earned revenue of $703K and had a GAAP net loss of $9.23 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
PhaseBio Pharmaceuticals, Inc. is engaged 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.