In a report released yesterday, Chad Messer from Needham reiterated a Buy rating on Phasebio Pharmaceuticals (PHAS), with a price target of $20.00. The company’s shares closed last Monday at $3.25, close to its 52-week low of $2.55.
According to TipRanks.com, Messer is a 4-star analyst with an average return of 4.5% and a 40.8% success rate. Messer covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics, Aerpio Pharmaceuticals, and Ionis Pharmaceuticals.
Currently, the analyst consensus on Phasebio Pharmaceuticals is a Strong Buy with an average price target of $18.33, implying a 422.2% upside from current levels. In a report issued on November 14, Cowen & Co. also maintained a Buy rating on the stock.
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The company has a one-year high of $16.65 and a one-year low of $2.55. Currently, Phasebio Pharmaceuticals has an average volume of 331.6K.
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. 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.
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