Phathom Pharmaceuticals (NASDAQ:PHAT) Research Coverage Started at Stifel Nicolaus

Research analysts at Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a note issued to investors on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $24.00 price target on the stock. Stifel Nicolaus’ price target points to a potential upside of 139.04% from the company’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, April 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Price Performance

PHAT stock opened at $10.04 on Friday. The company’s 50-day moving average is $9.78 and its 200-day moving average is $8.68. The stock has a market capitalization of $587.54 million, a PE ratio of -2.59 and a beta of 0.67. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted 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 firm had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same period last year, the company posted ($1.33) earnings per share. On average, analysts anticipate that Phathom Pharmaceuticals will post -4.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction of $38,128.50. Following the completion of the sale, the chief financial officer now owns 95,263 shares in the company, valued at $1,057,419.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated 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 owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $11.10, for a total transaction 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. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its position in Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after buying an additional 5,171 shares during the period. Invesco Ltd. grew its position in shares of Phathom Pharmaceuticals by 2.6% during the 3rd 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. Vanguard Group Inc. increased its stake in shares of Phathom Pharmaceuticals by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after purchasing an additional 180,325 shares during the last quarter. Algert Global LLC bought a new stake in shares of Phathom Pharmaceuticals in the 3rd quarter worth approximately $952,000. Finally, SG Americas Securities LLC raised its holdings in shares of Phathom Pharmaceuticals by 48.6% in the 4th quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock worth $165,000 after purchasing an additional 5,906 shares during the period. 99.01% of the stock is owned by institutional investors.

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.