Phathom Pharmaceuticals (NASDAQ:PHAT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $26.00 price target on the stock.

Separately, Stifel Nicolaus assumed coverage on Phathom Pharmaceuticals in a research note on Friday. They issued a buy rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Phathom Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $22.00.

Phathom Pharmaceuticals Price Performance

PHAT traded up $0.28 during trading hours on Friday, reaching $10.04. 647,444 shares of the stock traded hands, compared to its average volume of 721,401. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02. The company has a market cap of $587.54 million, a price-to-earnings ratio of -2.59 and a beta of 0.67. The firm’s fifty day simple moving average is $9.78 and its two-hundred day simple moving average is $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.93 million. During the same period in the prior year, the company posted ($1.33) EPS. On average, research analysts predict that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals 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 transaction, the insider now directly owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the transaction, 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 available through this link. Also, insider Terrie Curran sold 16,851 shares of the stock in a transaction on Friday, March 22nd. The stock was 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 directly owns 410,784 shares in the company, valued at $3,742,242.24. The disclosure for this sale can be found here. 24.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 worth $87,000 after buying an additional 6,641 shares during the period. Public Employees Retirement System of Ohio bought a new position in Phathom Pharmaceuticals in the 3rd quarter worth approximately $92,000. DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at approximately $91,000. Finally, Klingman & Associates LLC bought a new stake in Phathom Pharmaceuticals during the 1st quarter valued at $110,000. 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.