Phathom Pharmaceuticals’ (PHAT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

A number of other equities research analysts have also commented on PHAT. The Goldman Sachs Group increased their price objective on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a neutral rating in a report on Friday, August 9th. HC Wainwright restated a buy rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th.

Phathom Pharmaceuticals Trading Up 3.2 %

NASDAQ:PHAT opened at $18.89 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of -4.28 and a beta of 0.71. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $19.67. The firm has a 50 day moving average of $13.56 and a 200-day moving average of $11.34.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to the consensus estimate of $5.65 million. As a group, analysts forecast that Phathom Pharmaceuticals will post -6.03 EPS for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrie Curran sold 33,848 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $396,698.56. Following the sale, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The disclosure for this sale can be found here. Insiders have sold a total of 49,074 shares of company stock valued at $575,147 over the last three months. 24.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in PHAT. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after purchasing an additional 2,987 shares in the last quarter. Klingman & Associates LLC acquired a new stake in Phathom Pharmaceuticals in the 1st quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. raised its position in Phathom Pharmaceuticals by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after buying an additional 4,363 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in Phathom Pharmaceuticals in the 1st quarter valued at approximately $119,000. Finally, LVW Advisors LLC acquired a new position in Phathom Pharmaceuticals during the 2nd quarter worth approximately $133,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.