Phathom Pharmaceuticals (NASDAQ:PHAT) Receives Buy Rating from HC Wainwright

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $28.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 177.50% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus initiated coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They issued a “buy” rating and a $24.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Thursday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $10.09 on Friday. The firm has a market capitalization of $590.51 million, a P/E ratio of -2.60 and a beta of 0.67. The business has a 50 day simple moving average of $9.79 and a 200 day simple moving average of $8.70. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.43) by $0.01. The firm had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. Research analysts anticipate that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $9.11, for a total value of $153,512.61. Following the sale, the insider now owns 410,784 shares in the company, valued at $3,742,242.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was 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 of the company’s stock, valued at approximately $1,057,419.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Terrie Curran sold 16,851 shares of the firm’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 value of $153,512.61. Following the completion of the sale, the insider now owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The disclosure for this sale can be found here. Company insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Medicxi Ventures Management Jersey Ltd boosted its stake 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 buying an additional 3,703,703 shares in the last quarter. Invesco Ltd. boosted its position in shares of Phathom Pharmaceuticals by 2.6% during the 3rd quarter. Invesco Ltd. now owns 3,418,959 shares of the company’s stock valued at $35,455,000 after acquiring an additional 86,822 shares in the last quarter. Vanguard Group Inc. lifted its stake in Phathom Pharmaceuticals by 10.3% during the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after purchasing an additional 180,325 shares during the period. Avidity Partners Management LP boosted its holdings in Phathom Pharmaceuticals by 6.4% during the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock valued at $15,718,000 after purchasing an additional 104,280 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in shares of Phathom Pharmaceuticals in the 1st quarter valued at approximately $17,499,000. 99.01% of the stock is currently owned by 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.