HC Wainwright Reiterates Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research note issued on Friday, Benzinga reports. They presently have a $28.00 price target on the stock. HC Wainwright's target price points to a potential upside of 193.96% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday. Stifel Nicolaus initiated coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a "buy" rating and a $24.00 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Phathom Pharmaceuticals Stock Down 5.6 %

Shares of NASDAQ:PHAT traded down $0.56 during trading on Friday, reaching $9.53. The stock had a trading volume of 855,931 shares, compared to its average volume of 810,364. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02. The firm has a market capitalization of $557.44 million, a price-to-earnings ratio of -2.68 and a beta of 0.67. The stock has a fifty day simple moving average of $9.78 and a two-hundred day simple moving average of $8.71.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.01. The firm had revenue of $1.91 million during the quarter, compared to analyst estimates of $2.76 million. On average, analysts forecast that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PHAT. China Universal Asset Management Co. Ltd. boosted its stake in shares of Phathom Pharmaceuticals by 355.4% during 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $87,000 after acquiring an additional 6,641 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $91,000. Public Employees Retirement System of Ohio acquired a new position in shares of Phathom Pharmaceuticals in the third quarter worth approximately $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals in the first quarter worth approximately $110,000. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Company Profile

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.