Needham & Company LLC Reaffirms "Buy" Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Needham & Company LLC in a report issued on Friday, Marketbeat reports. They presently have a $28.00 price objective on the stock. Needham & Company LLC's target price would indicate a potential upside of 217.10% from the company's previous close.

A number of other equities research analysts have also commented on PHAT. Guggenheim decreased their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright decreased their price objective on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group decreased their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Price Performance

Shares of PHAT traded down $0.09 during trading hours on Friday, hitting $8.83. The stock had a trading volume of 8,964,881 shares, compared to its average volume of 1,432,907. The company's fifty day moving average is $4.21 and its two-hundred day moving average is $5.87. Phathom Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $19.71. The stock has a market capitalization of $616.46 million, a price-to-earnings ratio of -1.55 and a beta of 0.08.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PHAT. GAMMA Investing LLC raised its position in shares of Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after acquiring an additional 4,050 shares during the period. CWM LLC raised its position in shares of Phathom Pharmaceuticals by 20,997.1% in the 1st quarter. CWM LLC now owns 7,384 shares of the company's stock valued at $46,000 after acquiring an additional 7,349 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $74,000. Teacher Retirement System of Texas acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. Finally, Rafferty Asset Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. 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.