Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reaffirmed at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 393.83% from the company’s current price.

A number of other research firms have also recently issued reports on PHAT. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $23.00.

Phathom Pharmaceuticals Stock Down 6.7 %

Shares of PHAT stock traded down $0.41 during trading on Thursday, hitting $5.67. The company had a trading volume of 1,514,413 shares, compared to its average volume of 1,002,632. Phathom Pharmaceuticals has a 52 week low of $5.07 and a 52 week high of $19.71. The stock has a market capitalization of $387.70 million, a price-to-earnings ratio of -1.00 and a beta of 0.63. The stock’s 50-day moving average is $6.46 and its two-hundred day moving average is $11.33.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.41. On average, research analysts predict that Phathom Pharmaceuticals will post -4.78 EPS for the current fiscal year.

Insider Activity at Phathom Pharmaceuticals

In other news, Director Frank Karbe purchased 12,500 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the acquisition, the director now directly owns 57,000 shares of the company’s stock, valued at $452,010. This represents a 28.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the transaction, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,987 shares of company stock worth $240,551 in the last ninety days. 24.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC increased its position in Phathom Pharmaceuticals by 20.4% during the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after purchasing an additional 1,196,118 shares during the period. Vanguard Group Inc. boosted its stake in shares of Phathom Pharmaceuticals by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock valued at $22,570,000 after purchasing an additional 83,238 shares in the last quarter. Portolan Capital Management LLC increased its position in shares of Phathom Pharmaceuticals by 50.4% during the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock valued at $30,735,000 after buying an additional 569,829 shares during the period. Wasatch Advisors LP raised its stake in Phathom Pharmaceuticals by 531.3% in the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company’s stock worth $12,658,000 after buying an additional 1,311,986 shares in the last quarter. Finally, Checkpoint Capital L.P. raised its stake in Phathom Pharmaceuticals by 71.9% in the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock worth $27,198,000 after buying an additional 629,307 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.