Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research note issued to investors on Friday, Benzinga reports. They currently have a $26.00 price objective on the stock.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $11.02 on Friday. The business’s 50 day moving average price is $8.25 and its two-hundred day moving average price is $8.96. The company has a debt-to-equity ratio of 5.56, a current ratio of 10.25 and a quick ratio of 10.22. Phathom Pharmaceuticals has a twelve month low of $5.84 and a twelve month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same period last year, the firm earned ($1.33) EPS. Analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insiders Place Their Bets

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 transaction, the chief financial officer now owns 98,698 shares of the company’s stock, valued at $764,909.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other 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 owns 98,698 shares in the company, valued at $764,909.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the business’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 sale, the insider now owns 3,755,583 shares of the company’s stock, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. Company insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 1,956,429 shares of the company’s stock worth $17,862,000 after acquiring an additional 33,767 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Phathom Pharmaceuticals by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after acquiring an additional 54,581 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 51.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 210,211 shares of the company’s stock worth $1,919,000 after acquiring an additional 71,711 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Phathom Pharmaceuticals by 29.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,401 shares of the company’s stock valued at $159,000 after buying an additional 4,007 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Phathom Pharmaceuticals by 333.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 38,569 shares of the company’s stock valued at $352,000 after buying an additional 29,669 shares during the period. Institutional investors own 93.14% of the company’s stock.

About Phathom Pharmaceuticals

(Get Free Report)

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.

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