Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They presently have a $26.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 108.84% from the stock’s previous close.
Several other research firms have also commented on PHAT. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a “buy” rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th.
View Our Latest Stock Report on Phathom Pharmaceuticals
Phathom Pharmaceuticals Price Performance
Insiders Place Their Bets
In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $127,759.72. Following the completion of the sale, the chief operating officer now owns 240,421 shares in the company, valued at approximately $2,817,734.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of Phathom Pharmaceuticals 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 owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $127,759.72. Following the transaction, the chief operating officer now owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,074 shares of company stock worth $575,147. Corporate insiders own 24.10% of the company’s stock.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Large investors have recently bought and sold shares of the business. Medicxi Ventures Management Jersey Ltd grew its stake in shares of Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after buying an additional 3,703,703 shares in the last quarter. Jennison Associates LLC purchased a new position in Phathom Pharmaceuticals in the first quarter worth about $17,499,000. Decheng Capital LLC purchased a new position in Phathom Pharmaceuticals in the fourth quarter worth about $7,760,000. Catalys Pacific LLC bought a new stake in Phathom Pharmaceuticals during the fourth quarter worth approximately $6,592,000. Finally, Propel Bio Management LLC raised its position in Phathom Pharmaceuticals by 96.4% during the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock valued at $9,239,000 after purchasing an additional 426,880 shares during the period. Institutional investors 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.
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