Phathom Pharmaceuticals (NASDAQ:PHAT) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $24.00 price target on the stock.

Separately, Needham & Company LLC reiterated a buy rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $22.00.

Phathom Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ PHAT traded up $0.28 during mid-day trading on Friday, reaching $10.04. 647,444 shares of the company were exchanged, compared to its average volume of 721,401. The company’s 50-day simple moving average is $9.78 and its 200-day simple moving average is $8.68. The stock has a market capitalization of $587.54 million, a P/E ratio of -2.59 and a beta of 0.67. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the prior year, the business posted ($1.33) EPS. As a group, equities research analysts expect that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insider Activity

In related news, insider Terrie Curran sold 16,851 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now directly owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the business’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 sale, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Medicxi Ventures Management Jersey Ltd boosted its position 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 buying an additional 3,703,703 shares during the period. Invesco Ltd. increased its position in Phathom Pharmaceuticals by 2.6% during the 3rd quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after purchasing an additional 86,822 shares during the period. Vanguard Group Inc. raised its holdings in Phathom Pharmaceuticals by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after purchasing an additional 180,325 shares during the last quarter. Avidity Partners Management LP raised its holdings in Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after purchasing an additional 104,280 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Phathom Pharmaceuticals during the 1st quarter worth approximately $17,499,000. 99.01% of the stock is currently owned by institutional investors.

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.