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

Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $26.00 price target on the stock.

Other equities analysts also recently issued reports about the company. HC Wainwright reiterated a buy rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, May 10th. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a buy rating and a $24.00 price objective on the stock.

Get Our Latest Analysis on PHAT

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT opened at $11.70 on Friday. The company has a market cap of $684.86 million, a PE ratio of -2.65 and a beta of 0.67. The company has a 50-day simple moving average of $10.19 and a 200-day simple moving average of $9.21. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, topping the consensus estimate of ($1.43) by $0.01. The firm had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.76 million. On average, analysts anticipate that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the completion of the sale, the insider now directly owns 410,784 shares in the company, valued at $3,742,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the transaction, the insider now directly owns 410,784 shares of the company’s stock, valued at $3,742,242.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Molly Henderson sold 3,435 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the sale, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. 24.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PHAT. Barclays PLC raised its holdings in shares of Phathom Pharmaceuticals by 22.4% during the 3rd quarter. Barclays PLC now owns 13,235 shares of the company’s stock valued at $137,000 after buying an additional 2,422 shares during the period. Invesco Ltd. lifted its position in shares of Phathom Pharmaceuticals by 2.6% during the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock worth $35,455,000 after purchasing an additional 86,822 shares in the last quarter. Algert Global LLC purchased a new position in shares of Phathom Pharmaceuticals in the third quarter valued at $952,000. Trexquant Investment LP grew its holdings in Phathom Pharmaceuticals by 221.4% during the 3rd quarter. Trexquant Investment LP now owns 58,825 shares of the company’s stock valued at $610,000 after purchasing an additional 40,524 shares in the last quarter. Finally, MPM Bioimpact LLC increased its stake in Phathom Pharmaceuticals by 23.0% during the 3rd quarter. MPM Bioimpact LLC now owns 347,332 shares of the company’s stock worth $3,602,000 after buying an additional 65,000 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

(Get Free Report)

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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