Phathom Pharmaceuticals (NASDAQ:PHAT) Rating Reiterated by Needham & Company LLC

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

A number of other research firms also recently issued reports on PHAT. HC Wainwright restated a buy rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, May 10th. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a buy rating and a $24.00 target price for the company.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $10.81 on Friday. The firm has a market capitalization of $632.76 million, a PE ratio of -2.45 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 fifty day moving average price is $10.31 and its 200-day moving average price is $9.38.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The company had revenue of $1.91 million for the quarter, compared to analysts’ expectations of $2.76 million. As a group, research analysts anticipate that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the completion of the transaction, the chief financial officer now owns 95,263 shares in the company, valued at $1,057,419.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHAT. China Universal Asset Management Co. Ltd. raised its position in shares of Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after purchasing an additional 5,171 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth about $91,000. Public Employees Retirement System of Ohio acquired a new position in shares of Phathom Pharmaceuticals during the 3rd quarter worth about $92,000. Klingman & Associates LLC acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth about $110,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth about $119,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.