Phathom Pharmaceuticals (NASDAQ:PHAT) Given “Buy” Rating at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $26.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 129.68% from the company’s current price.

PHAT has been the topic of several other research reports. HC Wainwright reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, May 10th. Stifel Nicolaus began 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.

Read Our Latest Report on PHAT

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock traded down $0.49 during midday trading on Friday, reaching $11.32. The stock had a trading volume of 225,812 shares, compared to its average volume of 732,008. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $17.02. The firm’s fifty day simple moving average is $10.21 and its 200-day simple moving average is $9.28. The stock has a market capitalization of $662.56 million, a P/E ratio of -2.57 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last announced 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 business 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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now owns 95,263 shares in the company, valued at $1,057,419.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after purchasing an additional 5,171 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter valued at about $92,000. DAVENPORT & Co LLC bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at about $91,000. Klingman & Associates LLC purchased a new position in shares of Phathom Pharmaceuticals during the first quarter worth about $110,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Phathom Pharmaceuticals in the first quarter worth approximately $119,000. Institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

(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.

Further Reading

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