Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a report issued on Friday morning, Benzinga reports. The firm currently has a $26.00 target price on the stock.
Separately, Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals in a research report on Friday. They set a buy rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals has an average rating of Moderate Buy and a consensus price target of $22.00.
View Our Latest Analysis on PHAT
Phathom Pharmaceuticals Trading Up 1.2 %
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last announced 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 analyst estimates of $0.93 million. During the same quarter last year, the company posted ($1.33) earnings per share. As a group, equities analysts forecast that Phathom Pharmaceuticals will post -4.22 EPS for the current year.
Insiders Place Their Bets
In other Phathom Pharmaceuticals news, 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 in the company, valued at $3,742,242.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were 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 of the company’s stock, valued at $1,057,419.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $153,512.61. Following the completion of the transaction, the insider now directly owns 410,784 shares in the company, valued at $3,742,242.24. The disclosure for this sale can be found here. Corporate insiders own 24.10% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its stake in shares of Phathom Pharmaceuticals by 355.4% in 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 in the last quarter. Invesco Ltd. lifted 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 worth $35,455,000 after buying an additional 86,822 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 180,325 shares in the last quarter. Algert Global LLC purchased a new position in shares of Phathom Pharmaceuticals in the 3rd quarter worth approximately $952,000. Finally, SG Americas Securities LLC grew its holdings in shares of Phathom Pharmaceuticals by 48.6% in the fourth quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock valued at $165,000 after acquiring an additional 5,906 shares in the last quarter. 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.
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