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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $28.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 303.46% from the stock’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

Phathom Pharmaceuticals Stock Down 0.1 %

NASDAQ PHAT opened at $6.94 on Friday. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $19.71. The stock has a market cap of $474.54 million, a price-to-earnings ratio of -1.22 and a beta of 0.56. The business has a fifty day moving average of $9.43 and a 200-day moving average of $12.73.

Insider Transactions at Phathom Pharmaceuticals

In related news, Director Frank Karbe bought 12,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $7.93 per share, with a total value of $99,125.00. Following the completion of the transaction, the director now directly owns 57,000 shares of the company’s stock, valued at approximately $452,010. This represents a 28.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of PHAT. Huntington National Bank boosted its position in shares of Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after buying an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Phathom Pharmaceuticals by 41.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after buying an additional 722 shares during the period. US Bancorp DE boosted its position in shares of Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after buying an additional 1,166 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Phathom Pharmaceuticals by 10.6% in the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after buying an additional 1,339 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Phathom Pharmaceuticals in the third quarter worth about $197,000. 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.