Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $26.00 price objective on the stock. Needham & Company LLC's target price would suggest a potential upside of 148.33% from the company's previous close.
Phathom Pharmaceuticals Stock Performance
Shares of Phathom Pharmaceuticals stock traded down $1.33 during trading on Thursday, reaching $10.47. The company had a trading volume of 1,046,099 shares, compared to its average volume of 870,077. The company has a market cap of $612.25 million, a price-to-earnings ratio of -2.70 and a beta of 0.63. The firm's fifty day moving average is $9.24 and its 200-day moving average is $8.76. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02.
Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same period in the prior year, the company earned ($1.33) EPS. On average, research analysts anticipate that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insider Activity at Phathom Pharmaceuticals
In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the company's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value 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 legal filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the sale, the chief financial officer now directly owns 95,263 shares in the company, valued at $1,057,419.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the transaction, the insider now directly owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. Insiders sold a total of 3,730,296 shares of company stock valued at $30,240,515 in the last quarter. Insiders own 27.10% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of Phathom Pharmaceuticals by 20.1% during the second quarter. Legal & General Group Plc now owns 6,328 shares of the company's stock worth $54,000 after purchasing an additional 1,061 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Phathom Pharmaceuticals by 8.2% during the third quarter. Alliancebernstein L.P. now owns 15,800 shares of the company's stock worth $175,000 after purchasing an additional 1,200 shares during the period. Credit Suisse AG boosted its holdings in shares of Phathom Pharmaceuticals by 7.9% during the first quarter. Credit Suisse AG now owns 16,661 shares of the company's stock worth $119,000 after purchasing an additional 1,216 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Phathom Pharmaceuticals by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 78,587 shares of the company's stock worth $1,125,000 after purchasing an additional 1,250 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 11.9% during the third quarter. Principal Financial Group Inc. now owns 11,801 shares of the company's stock worth $122,000 after purchasing an additional 1,259 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.
Phathom Pharmaceuticals Company Profile
(
Get Free Report)
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.
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