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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They presently have a $26.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 152.43% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a “buy” rating and a $24.00 price target for the company. HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, May 10th.

Phathom Pharmaceuticals Stock Down 1.0 %

PHAT stock opened at $10.30 on Friday. The company has a market capitalization of $602.86 million, a P/E ratio of -2.34 and a beta of 0.67. The company has a 50-day simple moving average of $10.31 and a 200 day simple moving average of $9.37. 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 issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.76 million. Equities analysts anticipate that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the business’s 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 sale, 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 filing with the SEC, which is available through this link. Corporate insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Medicxi Ventures Management Jersey Ltd grew its stake in shares of 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 valued at $79,274,000 after buying an additional 3,703,703 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock valued at $21,018,000 after buying an additional 22,684 shares in the last quarter. Avidity Partners Management LP grew its stake in shares of Phathom Pharmaceuticals by 6.4% in the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after buying an additional 104,280 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $17,499,000. Finally, Kennedy Capital Management LLC boosted its position in Phathom Pharmaceuticals by 1.1% during the third quarter. Kennedy Capital Management LLC now owns 1,061,745 shares of the company’s stock worth $11,010,000 after purchasing an additional 12,070 shares during the period. Institutional investors own 99.01% of the company’s stock.

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.