Phathom Pharmaceuticals (NASDAQ:PHAT) Releases Earnings Results, Beats Expectations By $0.41 EPS

Phathom Pharmaceuticals (NASDAQ:PHAT) posted its earnings results on Thursday. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.41, Zacks reports.

Phathom Pharmaceuticals Price Performance

PHAT stock traded down $0.59 on Thursday, reaching $5.49. The company’s stock had a trading volume of 1,102,247 shares, compared to its average volume of 924,725. Phathom Pharmaceuticals has a 52 week low of $5.07 and a 52 week high of $19.71. The firm has a fifty day moving average of $6.46 and a two-hundred day moving average of $11.33. The company has a market capitalization of $375.39 million, a P/E ratio of -0.97 and a beta of 0.63.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PHAT shares. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, January 10th. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.00.

Insider Activity

In related news, Director Frank Karbe bought 12,500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average price of $7.93 per share, with a total value of $99,125.00. Following the purchase, the director now directly owns 57,000 shares of the company’s stock, valued at approximately $452,010. This represents a 28.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Azmi Nabulsi sold 7,886 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the sale, the chief operating officer now owns 233,390 shares of the company’s stock, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,987 shares of company stock worth $240,551. 24.10% of the stock is owned by company insiders.

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.