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

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

Separately, Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a research note on Friday. They issued a buy rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $22.00.

Phathom Pharmaceuticals Trading Up 8.0 %

NASDAQ PHAT opened at $10.84 on Friday. The company has a market capitalization of $634.36 million, a PE ratio of -2.79 and a beta of 0.67. 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 $9.80 and its 200-day simple moving average is $8.69.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same period in the previous year, the business posted ($1.33) EPS. As a group, analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 16,851 shares of the 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 completion of the sale, the insider now owns 410,784 shares in the company, valued at $3,742,242.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction on 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 approximately $1,057,419.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Terrie Curran sold 16,851 shares of the firm’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 transaction, the insider now directly owns 410,784 shares of the company’s stock, valued at $3,742,242.24. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its stake in shares of Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after purchasing an additional 5,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Phathom Pharmaceuticals by 371.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after acquiring an additional 6,641 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter valued at $92,000. DAVENPORT & Co LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth about $91,000. Finally, Klingman & Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 1st quarter worth about $110,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.