Phathom Pharmaceuticals (NASDAQ:PHAT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $26.00 price target on the stock.

A number of other research firms also recently commented on PHAT. Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 price objective on the stock. HC Wainwright restated a buy rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, May 10th.

Phathom Pharmaceuticals Stock Down 1.0 %

PHAT opened at $10.30 on Friday. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02. The business’s fifty day simple moving average is $10.31 and its 200 day simple moving average is $9.37.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.76 million. On average, equities analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 3,435 shares of the firm’s 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 directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its stake 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 valued at $60,000 after purchasing an additional 5,171 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals during the 4th quarter valued at approximately $91,000. Public Employees Retirement System of Ohio acquired a new stake in Phathom Pharmaceuticals during the 3rd quarter valued at approximately $92,000. Klingman & Associates LLC acquired a new stake in Phathom Pharmaceuticals during the 1st quarter valued at approximately $110,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Phathom Pharmaceuticals during the 1st quarter valued at approximately $119,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.