Phathom Pharmaceuticals’ (PHAT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a report released on Friday, Benzinga reports. HC Wainwright currently has a $28.00 price objective on the stock.

A number of other analysts also recently weighed in on PHAT. Needham & Company LLC reissued a buy rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a buy rating and a $24.00 target price for the company.

View Our Latest Stock Report on Phathom Pharmaceuticals

Phathom Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ:PHAT traded up $0.14 during trading on Friday, reaching $9.66. The stock had a trading volume of 491,323 shares, compared to its average volume of 805,763. The stock has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $8.71. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02. The firm has a market capitalization of $565.40 million, a price-to-earnings ratio of -2.22 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. On average, analysts forecast that Phathom Pharmaceuticals will post -5.41 EPS for the current year.

Insider Activity

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the completion of the transaction, the insider now owns 410,784 shares in the company, valued at $3,742,242.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Terrie Curran sold 16,851 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the sale, the insider now owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the sale, the chief financial officer now 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 company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Phathom Pharmaceuticals during the third quarter valued at approximately $126,000. Bank of New York Mellon Corp lifted its holdings in Phathom Pharmaceuticals by 21.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 95,065 shares of the company’s stock worth $986,000 after buying an additional 16,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Phathom Pharmaceuticals by 371.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after buying an additional 6,641 shares during the period. Principal Financial Group Inc. raised its position in shares of Phathom Pharmaceuticals by 11.9% during the third quarter. Principal Financial Group Inc. now owns 11,801 shares of the company’s stock worth $122,000 after acquiring an additional 1,259 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Phathom Pharmaceuticals by 22.4% during the third quarter. Barclays PLC now owns 13,235 shares of the company’s stock valued at $137,000 after acquiring an additional 2,422 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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