Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $26.00 price objective on the stock.
Phathom Pharmaceuticals Price Performance
NASDAQ PHAT traded up $0.08 on Friday, reaching $9.18. The stock had a trading volume of 370,890 shares, compared to its average volume of 826,141. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $17.02. The company has a market cap of $537.21 million, a P/E ratio of -2.39 and a beta of 0.63. The firm has a fifty day moving average of $9.85 and a two-hundred day moving average of $8.71.
Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same quarter last year, the firm earned ($1.33) EPS. Research analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the company's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the transaction, the insider now owns 410,784 shares of the company's stock, valued at approximately $3,742,242.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the sale, the insider now owns 410,784 shares of the company's stock, valued at $3,742,242.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Molly Henderson sold 3,435 shares of the 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 sale, the chief financial officer now directly owns 95,263 shares of the company's stock, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company's stock.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Several large investors have recently added to or reduced their stakes in the business. Medicxi Ventures Management Jersey Ltd grew its stake in Phathom Pharmaceuticals by 98.5% in the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company's stock valued at $79,274,000 after acquiring an additional 3,703,703 shares during the period. Wellington Management Group LLP grew its stake in Phathom Pharmaceuticals by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company's stock valued at $1,410,000 after acquiring an additional 54,581 shares during the period. Octagon Capital Advisors LP acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $456,000. Avidity Partners Management LP grew its stake 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 acquiring an additional 104,280 shares during the period. Finally, Catalys Pacific LLC acquired a new stake in Phathom Pharmaceuticals in the fourth quarter valued at approximately $6,592,000. Institutional investors and hedge funds own 99.01% of the company's stock.
About Phathom Pharmaceuticals
(
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.
Recommended Stories
Before you consider Phathom Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phathom Pharmaceuticals wasn't on the list.
While Phathom Pharmaceuticals currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
