Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 189.86% from the company’s previous close.
Phathom Pharmaceuticals Stock Down 5.4 %
PHAT stock opened at $8.97 on Friday. The company’s 50-day moving average price is $9.65 and its two-hundred day moving average price is $8.74. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02. The firm has a market cap of $524.92 million, a P/E ratio of -2.31 and a beta of 0.63.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the prior year, the business posted ($1.33) EPS. Equities analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current year.
Insider Activity at Phathom Pharmaceuticals
Hedge Funds Weigh In On Phathom Pharmaceuticals
A number of hedge funds have recently made changes to their positions in PHAT. China Universal Asset Management Co. Ltd. raised its holdings in Phathom Pharmaceuticals by 355.4% during the 4th 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 last quarter. Invesco Ltd. lifted its holdings in Phathom Pharmaceuticals by 2.6% in the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after buying an additional 86,822 shares during the period. Vanguard Group Inc. boosted its position in Phathom Pharmaceuticals by 10.3% during the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock valued at $19,938,000 after acquiring an additional 180,325 shares during the last quarter. Algert Global LLC acquired a new stake in Phathom Pharmaceuticals during the 3rd quarter worth about $952,000. Finally, Wellington Management Group LLP raised its position in shares of Phathom Pharmaceuticals by 1.8% in the 3rd quarter. Wellington Management Group LLP now owns 99,810 shares of the company’s stock worth $1,035,000 after acquiring an additional 1,797 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.
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.
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