Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research note published on Friday morning, Benzinga reports. The brokerage currently has a $26.00 price target on the stock.
Separately, The Goldman Sachs Group boosted their price objective on Phathom Pharmaceuticals from $9.00 to $10.00 and gave the company a neutral rating in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $23.00.
Phathom Pharmaceuticals Price Performance
Insider Buying and Selling
In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares of the company’s stock, valued at $30,420,222.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,307 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the sale, the chief financial officer now directly owns 98,698 shares of the company’s stock, valued at approximately $764,909.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the transaction, the insider now directly owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. 27.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Phathom Pharmaceuticals
A number of hedge funds have recently bought and sold shares of PHAT. Legal & General Group Plc boosted its holdings in Phathom Pharmaceuticals by 20.1% during the second quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after purchasing an additional 1,061 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Phathom Pharmaceuticals by 8.2% during the 3rd quarter. Alliancebernstein L.P. now owns 15,800 shares of the company’s stock worth $175,000 after buying an additional 1,200 shares in the last quarter. Credit Suisse AG boosted its stake in shares of Phathom Pharmaceuticals by 7.9% in the 1st quarter. Credit Suisse AG now owns 16,661 shares of the company’s stock worth $119,000 after buying an additional 1,216 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phathom Pharmaceuticals by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 78,587 shares of the company’s stock valued at $1,125,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Phathom Pharmaceuticals by 11.9% during the third quarter. Principal Financial Group Inc. now owns 11,801 shares of the company’s stock valued at $122,000 after acquiring an additional 1,259 shares during the last quarter. 93.14% of the stock is owned by hedge funds and other institutional investors.
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.
- Five stocks we like better than Phathom Pharmaceuticals
- How to Invest in Fertilizer
- 3 attractive stocks that insiders are buying
- Technology Stocks Explained: Here’s What to Know About Tech
- Alpha and Omega Semiconductor ready to bounce, DOJ cloud lifts
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Wendy’s vs Shake Shack: Out with the new, in with the old?
Receive News & Ratings for Phathom Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phathom Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.