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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $26.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 158.96% from the company’s current price.

Separately, Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phathom Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock traded up $0.28 on Friday, reaching $10.04. 647,444 shares of the company were exchanged, compared to its average volume of 721,401. The firm has a market cap of $587.58 million, a price-to-earnings ratio of -2.59 and a beta of 0.67. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $17.02. The company’s 50-day moving average is $9.78 and its two-hundred day moving average is $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.12. The company had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same period in the prior year, the business earned ($1.33) earnings per share. As a group, sell-side analysts forecast that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated 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 transaction, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the transaction, the insider now owns 410,784 shares in the company, valued at $3,742,242.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,057,419.30. The disclosure for this sale can be found here. 24.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Medicxi Ventures Management Jersey Ltd lifted its holdings 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 valued at $79,274,000 after acquiring an additional 3,703,703 shares during the last quarter. Invesco Ltd. lifted its stake in Phathom Pharmaceuticals by 2.6% during the third quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after purchasing an additional 86,822 shares during the last quarter. Vanguard Group Inc. lifted its stake in Phathom Pharmaceuticals by 10.3% during the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock valued at $19,938,000 after purchasing an additional 180,325 shares during the last quarter. Avidity Partners Management LP boosted its holdings in Phathom Pharmaceuticals by 6.4% during the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after buying an additional 104,280 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Phathom Pharmaceuticals in the first quarter worth approximately $17,499,000. 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.