Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) in a report published on Friday, Benzinga reports. The firm currently has a $26.00 target price on the stock.
Phathom Pharmaceuticals Stock Performance
Phathom Pharmaceuticals stock traded down $0.51 during trading hours on Friday, reaching $8.97. 590,192 shares of the stock were exchanged, compared to its average volume of 848,740. The stock has a market cap of $524.92 million, a P/E ratio of -2.31 and a beta of 0.63. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The firm's 50 day moving average is $9.65 and its 200 day moving average is $8.75.
Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping analysts' consensus estimates of ($0.92) by $0.12. The firm had revenue of $0.68 million for the quarter, compared to analysts' expectations of $0.93 million. During the same quarter in the previous year, the company posted ($1.33) EPS. Equities research analysts expect that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the company's stock in a transaction on Monday, April 8th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Molly Henderson sold 3,435 shares of the company's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the transaction, the chief financial officer now directly owns 95,263 shares of the company's stock, valued at approximately $1,057,419.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 16,851 shares of the company's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the transaction, the insider now directly owns 410,784 shares in the company, valued at $3,742,242.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,723,989 shares of company stock worth $30,191,635. 27.10% of the stock is owned by 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. Osaic Holdings Inc. lifted its holdings in shares of Phathom Pharmaceuticals by 2,715.2% in the second quarter. Osaic Holdings Inc. now owns 4,251 shares of the company's stock valued at $59,000 after purchasing an additional 4,100 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Phathom Pharmaceuticals by 112.6% in the second quarter. Quantbot Technologies LP now owns 5,527 shares of the company's stock valued at $46,000 after purchasing an additional 2,927 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Phathom Pharmaceuticals by 20.1% in the second quarter. Legal & General Group Plc now owns 6,328 shares of the company's stock valued at $54,000 after purchasing an additional 1,061 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Phathom Pharmaceuticals by 355.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company's stock valued at $60,000 after purchasing an additional 5,171 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Phathom Pharmaceuticals by 371.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company's stock valued at $87,000 after purchasing an additional 6,641 shares in the last quarter. 99.01% of the stock is 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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