Needham & Company LLC Reiterates Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

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

A number of other equities analysts have also commented on PHAT. The Goldman Sachs Group raised their price target on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a neutral rating in a research report on Friday, August 9th. HC Wainwright reiterated 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 6.2 %

Phathom Pharmaceuticals stock opened at $18.30 on Friday. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $19.67. The stock has a market cap of $1.07 billion, a P/E ratio of -4.15 and a beta of 0.71. The company’s 50-day moving average price is $13.39 and its two-hundred day moving average price is $11.28.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million for the quarter, compared to analyst estimates of $5.65 million. Equities analysts anticipate that Phathom Pharmaceuticals will post -6.03 earnings per share for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 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 transaction of $127,759.72. Following the completion of the transaction, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of the business’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 $127,759.72. Following the completion of the transaction, the chief operating officer now owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Terrie Curran sold 33,848 shares of the firm’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 transaction of $396,698.56. Following the completion of the sale, the insider now owns 377,734 shares in the company, valued at $4,427,042.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,074 shares of company stock valued at $575,147. Company insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Catalys Pacific LLC acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at approximately $6,592,000. Jennison Associates LLC bought a new stake in shares of Phathom Pharmaceuticals in the first quarter worth $17,499,000. Avidity Partners Management LP increased its holdings in Phathom Pharmaceuticals by 6.4% in the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after purchasing an additional 104,280 shares during the period. Medicxi Ventures Management Jersey Ltd lifted its holdings in 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 worth $79,274,000 after buying an additional 3,703,703 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock valued at $1,410,000 after buying an additional 54,581 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

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.