Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $26.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 180.17% from the company’s previous close.
Phathom Pharmaceuticals Stock Up 2.0 %
Shares of NASDAQ PHAT traded up $0.18 during midday trading on Friday, hitting $9.28. 171,863 shares of the company’s stock were exchanged, compared to its average volume of 823,600. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02. The company’s 50 day moving average price is $9.85 and its 200 day moving average price is $8.71. The firm has a market capitalization of $543.07 million, a PE ratio of -2.36 and a beta of 0.63.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the prior year, the firm posted ($1.33) earnings per share. On average, equities research analysts anticipate that Phathom Pharmaceuticals will post -4.22 EPS for the current year.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Medicxi Ventures Management Jersey Ltd increased its holdings in shares of Phathom Pharmaceuticals by 98.5% during the first 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 in the last quarter. Wellington Management Group LLP increased its holdings in Phathom Pharmaceuticals by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock valued at $1,410,000 after purchasing an additional 54,581 shares during the period. Octagon Capital Advisors LP acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $456,000. Avidity Partners Management LP increased its holdings 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 valued at $15,718,000 after purchasing an additional 104,280 shares during the period. Finally, Catalys Pacific LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $6,592,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.
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.
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