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

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report published on Friday, Benzinga reports. They currently have a $26.00 price objective on the stock.

Several other analysts also recently weighed in on the company. HC Wainwright restated a buy rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They issued a buy rating and a $24.00 target price for the company.

Phathom Pharmaceuticals Price Performance

PHAT opened at $10.94 on Friday. The stock has a fifty day moving average of $10.74 and a 200-day moving average of $9.60. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings data 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 business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.76 million. On average, equities research analysts predict that Phathom Pharmaceuticals will post -5.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Molly Henderson sold 4,325 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $396,698.56. Following the completion of the transaction, the insider now directly owns 377,734 shares in the company, valued at approximately $4,427,042.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,074 shares of company stock worth $575,147. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Medicxi Ventures Management Jersey Ltd lifted its holdings in Phathom Pharmaceuticals by 98.5% during the 1st 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 acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at about $17,499,000. Decheng Capital LLC bought a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth about $7,760,000. Catalys Pacific LLC acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $6,592,000. Finally, Propel Bio Management LLC boosted its holdings in Phathom Pharmaceuticals by 96.4% in the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock valued at $9,239,000 after acquiring an additional 426,880 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.