Phathom Pharmaceuticals (NASDAQ:PHAT) Earns Buy Rating from 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 report issued to clients and investors on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 60.99% from the stock’s current price.

PHAT has been the subject of a number of other reports. Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a “buy” rating and a $24.00 price target for the company. The Goldman Sachs Group lifted their target price on Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th.

Phathom Pharmaceuticals Trading Down 0.9 %

NASDAQ:PHAT traded down $0.15 during trading hours on Friday, hitting $16.15. The stock had a trading volume of 398,735 shares, compared to its average volume of 752,688. The company has a market cap of $945.34 million, a PE ratio of -3.67 and a beta of 0.68. The business has a 50 day simple moving average of $11.72 and a two-hundred day simple moving average of $10.55. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $17.10.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 33,848 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 value of $396,698.56. Following the completion of the transaction, the insider now directly owns 377,734 shares in the company, valued at $4,427,042.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 4,325 shares of Phathom Pharmaceuticals stock in a transaction 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 transaction, the chief financial officer now owns 99,447 shares of the company’s stock, valued at $1,165,518.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 33,848 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 transaction of $396,698.56. Following the sale, the insider now directly owns 377,734 shares in the company, valued at $4,427,042.48. The disclosure for this sale can be found here. Insiders have sold 49,074 shares of company stock worth $575,147 in the last ninety days. 24.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in Phathom Pharmaceuticals by 10.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after buying an additional 1,339 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in shares of Phathom Pharmaceuticals by 4.3% during the second quarter. Inspirion Wealth Advisors LLC now owns 36,634 shares of the company’s stock worth $377,000 after acquiring an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Phathom Pharmaceuticals by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock worth $208,000 after acquiring an additional 2,172 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Phathom Pharmaceuticals by 65.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock valued at $117,000 after purchasing an additional 4,363 shares during the period. Institutional investors 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.