Phathom Pharmaceuticals (NASDAQ:PHAT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Friday, Benzinga reports. The firm currently has a $26.00 target price on the stock.

A number of other research firms have also recently commented on PHAT. HC Wainwright restated a buy rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. The Goldman Sachs Group upped their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a neutral rating in a research note on Friday, August 9th.

Phathom Pharmaceuticals Stock Performance

PHAT opened at $18.30 on Friday. Phathom Pharmaceuticals has a one year low of $6.07 and a one year high of $19.67. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.15 and a beta of 0.71. The business’s 50 day moving average price is $13.39 and its 200 day moving average price is $11.27.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to analyst estimates of $5.65 million. As a group, equities research analysts forecast that Phathom Pharmaceuticals will post -6.03 earnings per share for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction 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 sale, the insider now owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Terrie Curran sold 33,848 shares of the company’s stock in a transaction 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 sale, the insider now owns 377,734 shares of the company’s stock, valued at $4,427,042.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Azmi Nabulsi sold 10,901 shares of the company’s stock in a transaction 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 directly owns 240,421 shares in the company, valued at approximately $2,817,734.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of PHAT. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Phathom Pharmaceuticals by 42.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares during the last quarter. Klingman & Associates LLC purchased a new position in Phathom Pharmaceuticals in the first quarter valued at $110,000. China Universal Asset Management Co. Ltd. increased its holdings 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 last quarter. State Board of Administration of Florida Retirement System purchased a new position in Phathom Pharmaceuticals in the first quarter valued at $119,000. Finally, LVW Advisors LLC purchased a new position in Phathom Pharmaceuticals in the second quarter valued at $133,000. 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.