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

Needham & Company LLC reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

A number of other research analysts have also recently commented on the company. HC Wainwright reissued a buy rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, May 10th. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 target price on the stock.

Phathom Pharmaceuticals Stock Performance

PHAT opened at $11.08 on Friday. The stock has a market cap of $648.51 million, a price-to-earnings ratio of -2.51 and a beta of 0.67. The firm’s fifty day moving average is $10.23 and its 200 day moving average is $9.30. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.76 million. On average, equities research analysts predict that Phathom Pharmaceuticals will post -5.57 earnings per share for the current year.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, 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 owns 95,263 shares in the company, valued at approximately $1,057,419.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in PHAT. Medicxi Ventures Management Jersey Ltd raised its position 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 buying an additional 3,703,703 shares in the last quarter. Jennison Associates LLC purchased a new stake in Phathom Pharmaceuticals during the first quarter valued at approximately $17,499,000. Decheng Capital LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at approximately $7,760,000. Catalys Pacific LLC bought a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $6,592,000. Finally, Propel Bio Management LLC boosted its holdings in shares of Phathom Pharmaceuticals by 96.4% in the 1st quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after purchasing an additional 426,880 shares during the period. 99.01% of the stock is owned by hedge funds and other 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.