Phathom Pharmaceuticals (NASDAQ:PHAT) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research report sent to investors on Friday, Marketbeat Ratings reports. They currently have a $26.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus began coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a buy rating and a $24.00 price objective on the stock. HC Wainwright restated a buy rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, May 10th.

Get Our Latest Stock Report on Phathom Pharmaceuticals

Phathom Pharmaceuticals Stock Down 6.2 %

Phathom Pharmaceuticals stock opened at $11.08 on Friday. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02. The firm’s fifty day moving average is $10.23 and its 200 day moving average is $9.31. The company has a market capitalization of $648.51 million, a PE ratio of -2.51 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. Sell-side analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Molly Henderson sold 3,435 shares of the company’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 completion of the sale, the chief financial officer now owns 95,263 shares in the company, valued at approximately $1,057,419.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. 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. DAVENPORT & Co LLC bought a new position in Phathom Pharmaceuticals during the fourth quarter valued at about $91,000. Public Employees Retirement System of Ohio bought a new position in Phathom Pharmaceuticals during the third quarter valued at about $92,000. Klingman & Associates LLC bought a new position in Phathom Pharmaceuticals during the first quarter valued at about $110,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Phathom Pharmaceuticals during the first quarter valued at about $119,000. Institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

(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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