Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They presently have a $26.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 147.38% from the company’s previous close.
Several other brokerages also recently weighed in on PHAT. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, May 10th. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a “buy” rating and a $24.00 target price on the stock.
View Our Latest Report on PHAT
Phathom Pharmaceuticals Stock Up 0.8 %
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, beating the consensus estimate of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $2.76 million. As a group, analysts expect that Phathom Pharmaceuticals will post -5.57 earnings per share for the current year.
Hedge Funds Weigh In On Phathom Pharmaceuticals
Hedge funds and other institutional investors have recently modified their holdings of the stock. Medicxi Ventures Management Jersey Ltd lifted its stake in Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after purchasing an additional 3,703,703 shares in the last quarter. Jennison Associates LLC bought a new position in Phathom Pharmaceuticals during the first quarter valued at approximately $17,499,000. Decheng Capital LLC purchased a new position in Phathom Pharmaceuticals during the 4th quarter valued at approximately $7,760,000. Catalys Pacific LLC bought a new stake in Phathom Pharmaceuticals in the 4th quarter worth approximately $6,592,000. Finally, Propel Bio Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 96.4% during the 1st quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after acquiring an additional 426,880 shares in the last quarter. 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.
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