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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $28.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 453.36% from the stock’s current price.

PHAT has been the subject of a number of other research reports. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Phathom Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $23.00.

Phathom Pharmaceuticals Trading Down 14.2 %

Shares of PHAT stock opened at $5.06 on Thursday. The firm has a market capitalization of $345.99 million, a PE ratio of -0.89 and a beta of 0.63. The firm has a fifty day simple moving average of $6.35 and a two-hundred day simple moving average of $11.24. Phathom Pharmaceuticals has a 12 month low of $5.02 and a 12 month high of $19.71.

Insider Transactions at Phathom Pharmaceuticals

In related news, Director Frank Karbe purchased 12,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $7.93 per share, with a total value of $99,125.00. Following the acquisition, the director now owns 57,000 shares of the company’s stock, valued at $452,010. This represents a 28.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the transaction, the chief operating officer now directly owns 233,390 shares in the company, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $240,551 in the last quarter. 24.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its holdings in shares of Phathom Pharmaceuticals by 62.2% in the 3rd 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 last quarter. KLP Kapitalforvaltning AS purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $74,000. Teacher Retirement System of Texas purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $90,000. Rafferty Asset Management LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $90,000. Finally, US Bancorp DE lifted its holdings in Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after purchasing an additional 1,166 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.