Phathom Pharmaceuticals (NASDAQ:PHAT) Coverage Initiated at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $24.00 price target on the stock.

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

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $10.84 on Friday. The stock’s 50-day simple moving average is $9.80 and its 200 day simple moving average is $8.69. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The company has a market cap of $634.36 million, a P/E ratio of -2.79 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The company had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the prior year, the company earned ($1.33) EPS. As a group, equities analysts predict that Phathom Pharmaceuticals will post -4.22 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Molly Henderson sold 3,435 shares of the business’s 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 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 SEC, which is available at this hyperlink. 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 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 of the company’s stock, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the firm’s 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 $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in PHAT. China Universal Asset Management Co. Ltd. increased its position 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 worth $60,000 after purchasing an additional 5,171 shares during the period. Invesco Ltd. lifted its stake in Phathom Pharmaceuticals by 2.6% during the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock worth $35,455,000 after purchasing an additional 86,822 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Phathom Pharmaceuticals by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock valued at $19,938,000 after purchasing an additional 180,325 shares during the last quarter. Algert Global LLC acquired a new position in shares of Phathom Pharmaceuticals during the 3rd quarter worth $952,000. Finally, SG Americas Securities LLC lifted its position in shares of Phathom Pharmaceuticals by 48.6% during the 4th quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock worth $165,000 after buying an additional 5,906 shares during 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.