Phathom Pharmaceuticals (NASDAQ:PHAT) Rating Reiterated by Needham & Company LLC

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

Several other research firms have also recently weighed in on PHAT. HC Wainwright reissued a buy rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, May 10th. Stifel Nicolaus began coverage on Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a buy rating and a $24.00 price target on the stock.

Phathom Pharmaceuticals Trading Up 5.0 %

Shares of PHAT opened at $10.81 on Friday. The business’s fifty day simple moving average is $10.31 and its two-hundred day simple moving average is $9.38. The company has a market cap of $632.76 million, a price-to-earnings ratio of -2.45 and a beta of 0.67. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, beating the consensus estimate of ($1.43) by $0.01. The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.76 million. As a group, research analysts forecast that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the sale, the chief financial officer now owns 95,263 shares in the company, valued at approximately $1,057,419.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Medicxi Ventures Management Jersey Ltd grew its position in shares of Phathom Pharmaceuticals by 98.5% during the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after purchasing an additional 3,703,703 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Phathom Pharmaceuticals by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,979,113 shares of the company’s stock valued at $21,018,000 after purchasing an additional 22,684 shares in the last quarter. Avidity Partners Management LP grew its position in shares of Phathom Pharmaceuticals by 6.4% during the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after purchasing an additional 104,280 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Phathom Pharmaceuticals during the first quarter valued at about $17,499,000. Finally, Kennedy Capital Management LLC grew its position in shares of Phathom Pharmaceuticals by 1.1% during the third quarter. Kennedy Capital Management LLC now owns 1,061,745 shares of the company’s stock valued at $11,010,000 after purchasing an additional 12,070 shares in the last quarter. Hedge funds and other institutional investors 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.