Phathom Pharmaceuticals’ (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $26.00 price objective on the stock.

Separately, Stifel Nicolaus started coverage on Phathom Pharmaceuticals in a report on Friday. They set a buy rating and a $24.00 price objective for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from 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 PHAT traded up $0.28 during midday trading on Friday, hitting $10.04. 647,444 shares of the company traded hands, compared to its average volume of 721,401. Phathom Pharmaceuticals has a one year low of $6.07 and a one year high of $17.02. The firm has a market cap of $587.54 million, a P/E ratio of -2.59 and a beta of 0.67. The stock has a 50-day moving average of $9.78 and a 200-day moving average of $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released 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 firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter last year, the firm earned ($1.33) earnings per share. Sell-side analysts forecast that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction 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 transaction, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the sale, 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. Corporate insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PHAT. Jennison Associates LLC bought a new stake in Phathom Pharmaceuticals in the first quarter worth $17,499,000. Klingman & Associates LLC purchased a new stake in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after purchasing an additional 4,363 shares during the last quarter. Medicxi Ventures Management Jersey Ltd boosted its holdings in shares of 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 valued at $79,274,000 after acquiring an additional 3,703,703 shares during the last quarter. Finally, Wellington Management Group LLP grew 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 purchasing an additional 54,581 shares during the period. 99.01% of the stock is currently owned by 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.