Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They presently have a $26.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 147.38% from the stock’s current price.
A number of other research firms have also issued reports on PHAT. Stifel Nicolaus began coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They issued a “buy” rating and a $24.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, May 10th.
Get Our Latest Analysis on Phathom Pharmaceuticals
Phathom Pharmaceuticals Stock Performance
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, topping the consensus estimate of ($1.43) by $0.01. The business had revenue of $1.91 million during the quarter, compared to analysts’ expectations of $2.76 million. As a group, sell-side analysts predict that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.
Institutional Investors Weigh In On Phathom Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its position in shares of Phathom Pharmaceuticals by 355.4% during the 4th 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 last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $91,000. Public Employees Retirement System of Ohio acquired a new position in shares of Phathom Pharmaceuticals in the 3rd quarter worth approximately $92,000. Klingman & Associates LLC purchased a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth approximately $110,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Phathom Pharmaceuticals in the 1st quarter valued at approximately $119,000. Hedge funds and other 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.
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