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

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

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 9th. HC Wainwright reaffirmed a buy rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th.

Phathom Pharmaceuticals Stock Down 1.3 %

Shares of Phathom Pharmaceuticals stock opened at $17.72 on Friday. The business has a fifty day simple moving average of $12.59 and a 200 day simple moving average of $10.99. The stock has a market cap of $1.04 billion, a PE ratio of -4.02 and a beta of 0.71. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $18.58.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.04. The firm had revenue of $7.32 million during the quarter, compared to analyst estimates of $5.65 million. Analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.

Insider Activity

In related news, COO Azmi Nabulsi sold 10,901 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 value of $127,759.72. Following the sale, the chief operating officer now owns 240,421 shares of the company’s stock, valued at approximately $2,817,734.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Terrie Curran sold 33,848 shares of the 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 $396,698.56. Following the completion of the transaction, the insider now directly owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Azmi Nabulsi sold 10,901 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 240,421 shares in the company, 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 three months. Corporate insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHAT. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after purchasing an additional 2,987 shares during the period. Klingman & Associates LLC bought a new stake in Phathom Pharmaceuticals in the first quarter valued at approximately $110,000. China Universal Asset Management Co. Ltd. raised its stake in Phathom Pharmaceuticals by 65.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after buying an additional 4,363 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter valued at approximately $119,000. Finally, LVW Advisors LLC bought a new position in shares of Phathom Pharmaceuticals during the 2nd quarter worth approximately $133,000. 99.01% of the stock is owned by institutional investors.

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.