Phathom Pharmaceuticals (NASDAQ:PHAT) Rating Reiterated by Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 57.38% from the stock’s current price.

PHAT has been the topic of a number of other reports. The Goldman Sachs Group lifted 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. Stifel Nicolaus began coverage on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. They issued a “buy” rating and a $24.00 price objective for the company. Finally, HC Wainwright reissued 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 Price Performance

PHAT opened at $16.52 on Friday. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.10. The firm has a market capitalization of $967.00 million, a PE ratio of -3.75 and a beta of 0.68. The company’s 50-day moving average is $11.92 and its 200 day moving average is $10.66.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.04. The company had revenue of $7.32 million during the quarter, compared to the consensus estimate of $5.65 million. As a group, analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the sale, the chief financial officer now owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 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 transaction of $50,689.00. Following the completion of the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Azmi Nabulsi sold 10,901 shares of the business’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 $127,759.72. Following the completion of the sale, the chief operating officer now owns 240,421 shares in the company, valued at $2,817,734.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,074 shares of company stock worth $575,147. 24.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Catalys Pacific LLC bought a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $6,592,000. Jennison Associates LLC purchased a new position in shares of Phathom Pharmaceuticals in the first quarter valued at $17,499,000. Avidity Partners Management LP raised its stake in shares of Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after purchasing an additional 104,280 shares during the period. Medicxi Ventures Management Jersey Ltd lifted its holdings in Phathom Pharmaceuticals by 98.5% during the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after purchasing an additional 3,703,703 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after purchasing an additional 54,581 shares during the period. 99.01% of the stock is owned by hedge funds and other 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.