Phathom Pharmaceuticals (NASDAQ:PHAT) Receives Buy Rating from Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $26.00 price target on the stock. Needham & Company LLC's target price points to a potential upside of 158.96% from the stock's previous close.

Separately, Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a report on Friday. They issued a "buy" rating and a $24.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Phathom Pharmaceuticals Trading Up 2.9 %

Shares of PHAT traded up $0.28 during trading hours on Friday, reaching $10.04. 647,291 shares of the company traded hands, compared to its average volume of 814,006. The firm has a market cap of $587.54 million, a price-to-earnings ratio of -2.59 and a beta of 0.67. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02. The stock's fifty day moving average price is $9.79 and its 200 day moving average price is $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analysts' expectations of $0.93 million. During the same period last year, the company earned ($1.33) earnings per share. On average, research analysts forecast that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following 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 can be accessed through this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals 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 directly owns 410,784 shares of the company's stock, valued at approximately $3,742,242.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals 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 directly owns 95,263 shares of the company's stock, valued at $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company's stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently bought and sold shares of PHAT. Jennison Associates LLC purchased a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $17,499,000. Klingman & Associates LLC purchased a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $110,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Phathom Pharmaceuticals by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company's stock valued at $117,000 after buying an additional 4,363 shares during the period. Medicxi Ventures Management Jersey Ltd boosted 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 during the period. Finally, Wellington Management Group LLP boosted its stake 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 period. 99.01% of the stock is owned by institutional investors and hedge funds.

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.

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