Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Reaffirmed by Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 46.31% from the company’s previous close.

Several other brokerages have also recently commented on PHAT. The Goldman Sachs Group boosted their price objective on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th.

Phathom Pharmaceuticals Stock Down 1.0 %

NASDAQ PHAT traded down $0.18 during trading hours on Friday, reaching $17.77. 604,829 shares of the company were exchanged, compared to its average volume of 758,548. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $18.58. The business’s 50 day simple moving average is $12.44 and its 200-day simple moving average is $10.93. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.04 and a beta of 0.71.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million for the quarter, compared to analysts’ expectations of $5.65 million. As a group, sell-side analysts anticipate that Phathom Pharmaceuticals will post -5.57 earnings per share for the current year.

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 4,325 shares of the business’s 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 $50,689.00. Following the completion of the sale, the chief financial officer now directly 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 at this hyperlink. In related news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $396,698.56. Following the completion of the sale, the insider now directly owns 377,734 shares in the company, valued at approximately $4,427,042.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction on Monday, July 15th. The shares were 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 of the company’s stock, valued at $1,165,518.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,074 shares of company stock worth $575,147. 24.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares during the last quarter. Klingman & Associates LLC bought a new stake in Phathom Pharmaceuticals during the 1st quarter valued at $110,000. China Universal Asset Management Co. Ltd. raised its holdings 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 purchasing an additional 4,363 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Phathom Pharmaceuticals in the 1st quarter worth $119,000. Finally, LVW Advisors LLC bought a new position in Phathom Pharmaceuticals in the 2nd quarter worth $133,000. 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.