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

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

PHAT has been the subject of several other research reports. HC Wainwright reaffirmed a buy rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, August 12th. The Goldman Sachs Group boosted their target price on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the company a neutral rating in a research note on Friday, August 9th.

Phathom Pharmaceuticals Price Performance

PHAT opened at $18.89 on Friday. The business has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $11.34. The stock has a market capitalization of $1.13 billion, a P/E ratio of -4.28 and a beta of 0.71. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $19.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.04. The firm had revenue of $7.32 million during the quarter, compared to analysts’ expectations of $5.65 million. Research analysts anticipate that Phathom Pharmaceuticals will post -6.03 EPS for the current year.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 4,325 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $50,689.00. Following the completion of the sale, the chief financial officer now owns 99,447 shares in the company, valued at approximately $1,165,518.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $50,689.00. Following the transaction, the chief financial officer now owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $127,759.72. Following the completion of the sale, the chief operating officer now directly owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,074 shares of company stock valued at $575,147. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently modified their holdings of PHAT. Medicxi Ventures Management Jersey Ltd boosted its position in Phathom Pharmaceuticals by 98.5% during the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after purchasing an additional 3,703,703 shares during the period. Jennison Associates LLC bought a new stake in Phathom Pharmaceuticals in the first quarter valued at about $17,499,000. Decheng Capital LLC acquired a new position in Phathom Pharmaceuticals in the fourth quarter worth about $7,760,000. Catalys Pacific LLC acquired a new position in Phathom Pharmaceuticals in the fourth quarter worth about $6,592,000. Finally, Propel Bio Management LLC lifted its stake in Phathom Pharmaceuticals by 96.4% during the first quarter. Propel Bio Management LLC now owns 869,927 shares of the company’s stock worth $9,239,000 after purchasing an additional 426,880 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

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.