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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $26.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 130.50% from the stock’s previous close.

A number of other research firms also recently issued reports on PHAT. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a “buy” rating and a $24.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 19th.

Phathom Pharmaceuticals Stock Down 1.6 %

PHAT stock opened at $11.28 on Friday. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The stock has a market cap of $660.22 million, a price-to-earnings ratio of -2.56 and a beta of 0.68. The business has a fifty day moving average of $10.85 and a two-hundred day moving average of $9.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. As a group, sell-side analysts anticipate that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, COO Azmi Nabulsi sold 10,901 shares of Phathom Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief operating officer now owns 240,421 shares in the company, valued at $2,817,734.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction dated 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 directly owns 240,421 shares in the company, valued at approximately $2,817,734.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in Phathom Pharmaceuticals by 1.8% in the third quarter. Wellington Management Group LLP now owns 99,810 shares of the company’s stock worth $1,035,000 after acquiring an additional 1,797 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 10.3% during the third 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 in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Phathom Pharmaceuticals in the third quarter valued at $92,000. SG Americas Securities LLC raised its stake in Phathom Pharmaceuticals by 48.6% in the fourth quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock valued at $165,000 after buying an additional 5,906 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $91,000. 99.01% of the stock is owned by institutional investors and hedge funds.

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.