Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $26.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 180.17% from the stock’s previous close.
Phathom Pharmaceuticals Price Performance
NASDAQ PHAT traded up $0.18 on Friday, reaching $9.28. The company had a trading volume of 171,863 shares, compared to its average volume of 823,600. The firm has a market capitalization of $543.07 million, a PE ratio of -2.36 and a beta of 0.63. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $17.02. The firm has a 50-day moving average of $9.85 and a 200-day moving average of $8.71.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter in the prior year, the company earned ($1.33) EPS. As a group, sell-side analysts expect that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insider Buying and Selling at Phathom Pharmaceuticals
Institutional Investors Weigh In On Phathom Pharmaceuticals
Several institutional investors and hedge funds have recently made changes to their positions in the company. Medicxi Ventures Management Jersey Ltd raised its position in shares of Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after acquiring an additional 3,703,703 shares in the last quarter. Wellington Management Group LLP increased its position in Phathom Pharmaceuticals by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after buying an additional 54,581 shares during the period. Octagon Capital Advisors LP acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth $456,000. Avidity Partners Management LP increased its position in Phathom Pharmaceuticals by 6.4% in the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after buying an additional 104,280 shares during the period. Finally, Catalys Pacific LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter worth $6,592,000. 99.01% of the stock is owned by institutional investors and hedge funds.
Phathom Pharmaceuticals Company Profile
Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.
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