HC Wainwright Reaffirms “Buy” Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

HC Wainwright reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report published on Monday morning, Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a buy rating and a $24.00 target price on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, July 26th. Finally, The Goldman Sachs Group raised their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a neutral rating in a research note on Friday, August 9th.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $12.44 on Monday. The firm’s 50 day simple moving average is $11.20 and its 200 day simple moving average is $10.08. The company has a market capitalization of $741.30 million, a P/E ratio of -2.82 and a beta of 0.68. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $15.66.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $127,759.72. Following the transaction, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PHAT. Vanguard Group Inc. grew its holdings in shares of Phathom Pharmaceuticals by 10.3% in the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after purchasing an additional 180,325 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Phathom Pharmaceuticals by 48.6% in the fourth quarter. SG Americas Securities LLC now owns 18,070 shares of the company’s stock worth $165,000 after purchasing an additional 5,906 shares during the last quarter. Fulton Breakefield Broenniman LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $215,000. Russell Investments Group Ltd. grew its holdings in shares of Phathom Pharmaceuticals by 178.3% in the fourth quarter. Russell Investments Group Ltd. now owns 39,292 shares of the company’s stock worth $359,000 after purchasing an additional 25,172 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $137,000. 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.