Phasebio Pharmaceuticals (PHAS) Gets a Buy Rating from Needham

In a report released today, Chad Messer from Needham assigned a Buy rating to Phasebio Pharmaceuticals (PHASResearch Report), with a price target of $15.00. The company’s shares closed last Thursday at $4.02.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 9.3% and a 46.7% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.

Currently, the analyst consensus on Phasebio Pharmaceuticals is a Strong Buy with an average price target of $13.67, representing a 233.4% upside. In a report released today, Stifel Nicolaus also reiterated a Buy rating on the stock with a $8.00 price target.

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The company has a one-year high of $5.83 and a one-year low of $2.60. Currently, Phasebio Pharmaceuticals has an average volume of 466.7K.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.