HC Wainwright Reiterates Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

HC Wainwright reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group increased their price target on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a neutral rating in a research note on Friday, August 9th. Needham & Company LLC reissued a buy rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, July 26th. Finally, Stifel Nicolaus began coverage on Phathom Pharmaceuticals in a research note on Friday, May 3rd. They set a buy rating and a $24.00 price target on the stock.

Phathom Pharmaceuticals Stock Performance

PHAT stock opened at $13.11 on Monday. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $15.56. The stock’s 50 day moving average price is $11.27 and its 200 day moving average price is $10.10. The firm has a market cap of $780.93 million, a P/E ratio of -2.97 and a beta of 0.68.

Insider Buying and Selling

In related news, CFO Molly Henderson sold 4,325 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Molly Henderson sold 4,325 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $50,689.00. Following the transaction, the chief financial officer now directly owns 99,447 shares of the company’s stock, valued at approximately $1,165,518.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Azmi Nabulsi sold 10,901 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total value of $127,759.72. Following the completion of the transaction, the chief operating officer now directly owns 240,421 shares in the company, valued at $2,817,734.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Phathom Pharmaceuticals by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after purchasing an additional 1,339 shares in the last quarter. Oracle Investment Management Inc. acquired a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at $2,318,000. Marshall Wace LLP acquired a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at $1,161,000. Rhumbline Advisers increased its holdings in Phathom Pharmaceuticals by 17.1% in the 2nd quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock valued at $568,000 after purchasing an additional 8,075 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after purchasing an additional 2,987 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.