Phathom Pharmaceuticals’ (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $28.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 302.88% from the stock’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th.

Read Our Latest Analysis on PHAT

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $6.95 on Friday. The stock has a 50-day simple moving average of $9.66 and a 200-day simple moving average of $12.74. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $19.71. The firm has a market cap of $475.22 million, a price-to-earnings ratio of -1.22 and a beta of 0.56.

Insider Activity

In other news, Director Frank Karbe bought 12,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the acquisition, the director now directly owns 57,000 shares of the company’s stock, valued at $452,010. The trade was a 28.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 24.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently bought and sold shares of PHAT. Huntington National Bank boosted its stake in Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after purchasing an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Phathom Pharmaceuticals by 41.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after acquiring an additional 722 shares during the period. US Bancorp DE grew its stake in shares of Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after acquiring an additional 1,166 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Phathom Pharmaceuticals by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,025 shares of the company’s stock valued at $1,772,000 after purchasing an additional 4,871 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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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