HC Wainwright Reiterates Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

HC Wainwright restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report issued on Monday, Benzinga reports. The firm currently has a $28.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus began coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a buy rating and a $24.00 price target on the stock. Needham & Company LLC restated a buy rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 26th. Finally, The Goldman Sachs Group raised their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a neutral rating in a research report on Friday, August 9th.

Phathom Pharmaceuticals Trading Up 5.3 %

Shares of PHAT stock opened at $13.11 on Monday. The company has a market capitalization of $780.93 million, a P/E ratio of -2.97 and a beta of 0.68. The business’s 50 day moving average is $11.27 and its two-hundred day moving average is $10.10. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $15.56.

Insider Activity

In related news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction that occurred 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 $1,165,518.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of the firm’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 completion of the sale, the chief financial officer now owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Azmi Nabulsi sold 10,901 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $127,759.72. Following the sale, the chief operating officer now directly owns 240,421 shares of the company’s stock, valued at approximately $2,817,734.12. The disclosure for this sale can be found here. Insiders have sold a total of 49,074 shares of company stock worth $575,147 over the last quarter. 24.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in Phathom Pharmaceuticals by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after acquiring an additional 1,339 shares during the last quarter. Oracle Investment Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at $2,318,000. Marshall Wace LLP acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter valued at $1,161,000. Rhumbline Advisers grew its stake in shares of Phathom Pharmaceuticals by 17.1% in the second quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after buying an additional 8,075 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares in the last quarter. Institutional investors and hedge funds 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.