Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They presently have a $26.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 188.89% from the stock’s current price.
Phathom Pharmaceuticals Price Performance
NASDAQ PHAT traded down $0.48 during trading on Friday, hitting $9.00. The company’s stock had a trading volume of 386,914 shares, compared to its average volume of 845,852. The company has a market cap of $526.68 million, a PE ratio of -2.31 and a beta of 0.63. The business’s 50 day simple moving average is $9.60 and its 200-day simple moving average is $8.75. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same period in the prior year, the business posted ($1.33) EPS. Analysts expect that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insider Buying and Selling
Institutional Trading of Phathom Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. increased its position in shares of Phathom Pharmaceuticals by 2,715.2% during the second quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock worth $59,000 after purchasing an additional 4,100 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Phathom Pharmaceuticals by 112.6% during the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock worth $46,000 after purchasing an additional 2,927 shares in the last quarter. Legal & General Group Plc increased its position in shares of Phathom Pharmaceuticals by 20.1% during the second quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after purchasing an additional 1,061 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after buying an additional 5,171 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after buying an additional 6,641 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.
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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