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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They currently have a $26.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 158.96% from the stock’s current price.

Separately, Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a report on Friday. They set a “buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

Phathom Pharmaceuticals Stock Up 2.9 %

PHAT traded up $0.28 on Friday, hitting $10.04. 647,444 shares of the company traded hands, compared to its average volume of 721,401. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02. The company has a 50 day moving average of $9.78 and a 200-day moving average of $8.68. The stock has a market capitalization of $587.58 million, a PE ratio of -2.59 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same quarter last year, the company earned ($1.33) EPS. On average, research analysts anticipate that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insiders Place Their Bets

In other news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the completion of the transaction, the insider now owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Terrie Curran sold 16,851 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the sale, the insider now owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Molly Henderson sold 3,435 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PHAT. SG Americas Securities LLC purchased a new position in Phathom Pharmaceuticals during the 3rd quarter valued at about $126,000. Bank of New York Mellon Corp increased its stake in shares of Phathom Pharmaceuticals by 21.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 95,065 shares of the company’s stock worth $986,000 after purchasing an additional 16,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Phathom Pharmaceuticals by 371.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after purchasing an additional 6,641 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Phathom Pharmaceuticals by 11.9% in the 3rd quarter. Principal Financial Group Inc. now owns 11,801 shares of the company’s stock valued at $122,000 after buying an additional 1,259 shares in the last quarter. Finally, Barclays PLC lifted its stake in Phathom Pharmaceuticals by 22.4% in the 3rd quarter. Barclays PLC now owns 13,235 shares of the company’s stock valued at $137,000 after buying an additional 2,422 shares in the last quarter. Institutional investors and hedge funds 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.