Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Reaffirmed by Needham & Company LLC

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

Several other equities research analysts also recently weighed in on the stock. HC Wainwright reissued a buy rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 19th. Stifel Nicolaus initiated coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a buy rating and a $24.00 price objective on the stock.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock opened at $11.46 on Friday. The company’s fifty day moving average price is $10.89 and its two-hundred day moving average price is $9.74. The firm has a market capitalization of $670.81 million, a P/E ratio of -2.60 and a beta of 0.68. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. On average, sell-side analysts anticipate that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Terrie Curran sold 33,848 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $396,698.56. Following the sale, the insider now owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The disclosure for this sale can be found here. Insiders sold a total of 49,074 shares of company stock valued at $575,147 in the last quarter. Insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in PHAT. China Universal Asset Management Co. Ltd. increased its position in Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after acquiring an additional 5,171 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at $91,000. Public Employees Retirement System of Ohio bought a new stake in shares of Phathom Pharmaceuticals during the third quarter valued at about $92,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after purchasing an additional 2,987 shares during the period. Finally, Klingman & Associates LLC bought a new position in Phathom Pharmaceuticals in the 1st quarter valued at about $110,000. Institutional investors 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.