Phathom Pharmaceuticals’ (PHAT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Friday, Benzinga reports. Needham & Company LLC currently has a $26.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 price objective for the company. HC Wainwright restated a buy rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT opened at $11.88 on Friday. The company has a 50 day simple moving average of $10.78 and a 200 day simple moving average of $9.63. The firm has a market cap of $695.34 million, a PE ratio of -2.69 and a beta of 0.68. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.76 million. As a group, research analysts anticipate that Phathom Pharmaceuticals will post -5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the completion of the transaction, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the completion of the sale, the chief financial officer now owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrie Curran sold 33,848 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,074 shares of company stock worth $575,147. 24.10% of the stock is currently owned by insiders.

Institutional Trading of Phathom Pharmaceuticals

Several large investors have recently modified their holdings of PHAT. Medicxi Ventures Management Jersey Ltd grew 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 worth $79,274,000 after buying an additional 3,703,703 shares during the period. Jennison Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 1st quarter worth approximately $17,499,000. Decheng Capital LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $7,760,000. Catalys Pacific LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $6,592,000. Finally, Propel Bio Management LLC grew its position in shares of Phathom Pharmaceuticals by 96.4% during the 1st quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after buying an additional 426,880 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.