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

Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note released on Friday, Benzinga reports. They currently have a $26.00 price target on the stock.

Phathom Pharmaceuticals Stock Up 1.9 %

PHAT stock opened at $9.35 on Friday. The stock has a market capitalization of $547.16 million, a price-to-earnings ratio of -2.41 and a beta of 0.63. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The stock’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its 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 business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter last year, the company posted ($1.33) earnings per share. As a group, analysts anticipate that Phathom Pharmaceuticals will post -4.22 earnings per share for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $11.10, for a total transaction of $38,128.50. Following the transaction, the chief financial officer now owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 16,851 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the completion of the sale, the insider now owns 410,784 shares of the company’s stock, valued at $3,742,242.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Molly Henderson sold 3,435 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 95,263 shares in the company, valued at $1,057,419.30. The disclosure for this sale can be found here. 24.10% of the stock is owned by insiders.

Institutional Trading of Phathom Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Phathom Pharmaceuticals by 11.9% during the third quarter. Principal Financial Group Inc. now owns 11,801 shares of the company’s stock valued at $122,000 after buying an additional 1,259 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 valued at $1,035,000 after acquiring an additional 1,797 shares in the last quarter. Barclays PLC boosted its position in Phathom Pharmaceuticals by 22.4% during the 3rd quarter. Barclays PLC now owns 13,235 shares of the company’s stock worth $137,000 after purchasing an additional 2,422 shares during the period. Allworth Financial LP increased its holdings in Phathom Pharmaceuticals by 15.3% in the 4th quarter. Allworth Financial LP now owns 22,580 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after purchasing an additional 4,363 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.