Phathom Pharmaceuticals (NASDAQ:PHAT) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Friday morning, Marketbeat reports. The firm issued a buy rating and a $24.00 price objective on the stock.

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

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded up $0.28 during mid-day trading on Friday, reaching $10.04. 647,444 shares of the company 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 firm has a market cap of $587.54 million, a PE ratio of -2.59 and a beta of 0.67. The stock has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating 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 earned ($1.33) EPS. As a group, analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Terrie Curran sold 16,851 shares of the firm’s 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 completion of the sale, the insider now directly owns 410,784 shares in the company, valued at $3,742,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction that occurred on 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 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 the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. 24.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new position in Phathom Pharmaceuticals in the 1st quarter worth approximately $17,499,000. Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals in the 1st quarter worth approximately $110,000. China Universal Asset Management Co. Ltd. lifted its position in Phathom Pharmaceuticals by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after buying an additional 4,363 shares in the last quarter. Medicxi Ventures Management Jersey Ltd lifted its position in 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. Finally, Wellington Management Group LLP lifted its position 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 buying an additional 54,581 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.