Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reiterated at Needham & Company LLC

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

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $9.01 on Friday. The firm has a fifty day moving average of $9.70 and a two-hundred day moving average of $8.72. The stock has a market capitalization of $527.27 million, a price-to-earnings ratio of -2.32 and a beta of 0.63. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the previous year, the firm posted ($1.33) EPS. As a group, research analysts forecast that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Terrie Curran sold 16,851 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the sale, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares of the company’s stock, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,723,989 shares of company stock worth $30,191,635. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

A number of large investors have recently made changes to their positions in PHAT. Medicxi Ventures Management Jersey Ltd increased its holdings in Phathom Pharmaceuticals by 98.5% during 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. Decheng Capital LLC bought a new position in Phathom Pharmaceuticals during the 4th quarter worth about $7,760,000. Catalys Pacific LLC bought a new position in Phathom Pharmaceuticals during the 4th quarter worth about $6,592,000. Vanguard Group Inc. increased its holdings in Phathom Pharmaceuticals by 10.3% during the 3rd 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 in the last quarter. Finally, Avidity Partners Management LP increased its holdings in Phathom Pharmaceuticals by 6.4% during the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after purchasing an additional 104,280 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.