Phathom Pharmaceuticals’ (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

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

PHAT has been the topic of several other reports. Stifel Nicolaus started coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a buy rating and a $24.00 price target on the stock. HC Wainwright reaffirmed a buy rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, May 10th.

Phathom Pharmaceuticals Stock Down 6.2 %

NASDAQ PHAT opened at $11.08 on Friday. The firm has a market cap of $648.51 million, a P/E ratio of -2.51 and a beta of 0.67. The company’s 50 day moving average is $10.23 and its 200-day moving average is $9.30. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.76 million. Equities analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current year.

Insider Activity at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 3,435 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the transaction, the chief financial officer now owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently modified their holdings of PHAT. Barclays PLC boosted its stake in Phathom Pharmaceuticals by 22.4% in the third quarter. Barclays PLC now owns 13,235 shares of the company’s stock worth $137,000 after buying an additional 2,422 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Phathom Pharmaceuticals by 2.6% during the 3rd 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. Algert Global LLC bought a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at $952,000. Trexquant Investment LP raised its position in Phathom Pharmaceuticals by 221.4% in the 3rd quarter. Trexquant Investment LP now owns 58,825 shares of the company’s stock worth $610,000 after purchasing an additional 40,524 shares during the period. Finally, MPM Bioimpact LLC lifted its stake in Phathom Pharmaceuticals by 23.0% in the third quarter. MPM Bioimpact LLC now owns 347,332 shares of the company’s stock worth $3,602,000 after purchasing an additional 65,000 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Company Profile

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.