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

Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $28.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Trading Down 10.2 %

NASDAQ:PHAT traded down $0.45 during midday trading on Wednesday, hitting $3.98. 606,400 shares of the company were exchanged, compared to its average volume of 1,004,601. Phathom Pharmaceuticals has a fifty-two week low of $3.82 and a fifty-two week high of $19.71. The company has a market capitalization of $277.16 million, a PE ratio of -0.70 and a beta of 0.35. The company has a fifty day simple moving average of $5.50 and a 200 day simple moving average of $9.25.

Insider Activity at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 19,109 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,256 shares of company stock worth $238,014 in the last three months. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in PHAT. GAMMA Investing LLC increased its holdings in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock valued at $29,000 after buying an additional 4,050 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $74,000. Teacher Retirement System of Texas purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. Rafferty Asset Management LLC acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth $90,000. Finally, Versor Investments LP purchased a new stake in Phathom Pharmaceuticals during the fourth quarter worth $101,000. Institutional investors and hedge funds 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.