Phathom Pharmaceuticals (NASDAQ:PHAT) Rating Reiterated by Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They presently have a $26.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 157.68% from the stock’s previous close.

Separately, Stifel Nicolaus began coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They issued a “buy” rating and a $24.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Phathom Pharmaceuticals Trading Down 0.1 %

Shares of Phathom Pharmaceuticals stock traded down $0.01 during trading on Thursday, reaching $10.09. The stock had a trading volume of 1,096,685 shares, compared to its average volume of 809,670. The company has a market capitalization of $590.47 million, a price-to-earnings ratio of -2.60 and a beta of 0.67. The stock has a fifty day moving average price of $9.79 and a two-hundred day moving average price of $8.70. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.12. The firm had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.93 million. During the same quarter last year, the firm earned ($1.33) earnings per share. On average, equities analysts forecast 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 business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,742,242.24. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,742,242.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Molly Henderson sold 3,435 shares of the business’s 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 transaction, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The disclosure for this sale can be found here. Company insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PHAT. China Universal Asset Management Co. Ltd. grew its holdings in shares of Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after purchasing an additional 5,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Phathom Pharmaceuticals by 371.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after buying an additional 6,641 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $91,000. Public Employees Retirement System of Ohio acquired a new position in shares of Phathom Pharmaceuticals in the 3rd quarter valued at approximately $92,000. Finally, Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $110,000. Institutional investors own 99.01% of the company’s stock.

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.