Phathom Pharmaceuticals’ (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a $26.00 target price on the stock.

Separately, Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a report on Friday. They issued a buy rating and a $24.00 target price for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals has a consensus rating of Moderate Buy and an average target price of $22.00.

Phathom Pharmaceuticals Trading Up 8.0 %

NASDAQ PHAT opened at $10.84 on Friday. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $17.02. The firm has a market capitalization of $634.36 million, a price-to-earnings ratio of -2.79 and a beta of 0.67. The firm’s 50 day simple moving average is $9.80 and its 200 day simple moving average is $8.69.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the previous year, the business posted ($1.33) EPS. On average, equities research analysts forecast that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Terrie Curran sold 16,851 shares of the stock in a transaction on Friday, March 22nd. The stock was 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 in the company, valued at $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction dated 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 $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Medicxi Ventures Management Jersey Ltd increased its position in shares of Phathom Pharmaceuticals by 98.5% during the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after buying an additional 3,703,703 shares during the period. Jennison Associates LLC bought a new position in shares of Phathom Pharmaceuticals in the 1st quarter worth about $17,499,000. Decheng Capital LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $7,760,000. Catalys Pacific LLC bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at about $6,592,000. Finally, Vanguard Group Inc. increased its holdings in Phathom Pharmaceuticals by 10.3% in the third 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 in the last quarter. Institutional investors 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.