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

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Monday, Benzinga reports. They presently have a $26.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 165.31% from the company’s current price.

Phathom Pharmaceuticals Trading Down 7.5 %

PHAT stock opened at $9.80 on Monday. The company has a market capitalization of $573.10 million, a P/E ratio of -2.53 and a beta of 0.63. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $17.02. The business has a 50 day simple moving average of $8.74 and a 200-day simple moving average of $8.74.

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

Insider Buying and Selling

In related news, CFO Molly Henderson sold 6,307 shares of the stock in a transaction 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 $764,909.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,307 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $7.75, for a total value of $48,879.25. Following the completion of the sale, the chief financial officer now owns 98,698 shares of the company’s stock, valued at $764,909.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the sale, the insider now directly owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The disclosure for this sale can be found here. Insiders sold a total of 3,726,861 shares of company stock valued at $30,202,386 over the last three months. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in Phathom Pharmaceuticals by 2.6% in the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after acquiring an additional 86,822 shares during the period. Algert Global LLC acquired a new position in shares of Phathom Pharmaceuticals during the 3rd quarter worth $952,000. Wellington Management Group LLP raised its stake in shares of Phathom Pharmaceuticals by 1.8% during the 3rd quarter. Wellington Management Group LLP now owns 99,810 shares of the company’s stock worth $1,035,000 after buying an additional 1,797 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Phathom Pharmaceuticals during the 3rd quarter worth $92,000. Finally, GSA Capital Partners LLP raised its stake in shares of Phathom Pharmaceuticals by 126.1% during the 3rd quarter. GSA Capital Partners LLP now owns 121,892 shares of the company’s stock worth $1,264,000 after buying an additional 67,983 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

(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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