Phathom Pharmaceuticals (NASDAQ:PHAT) Given Buy Rating at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $26.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 285.76% from the company’s current price.

Separately, The Goldman Sachs Group increased their target price on Phathom Pharmaceuticals from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.00.

View Our Latest Research Report on PHAT

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $6.74 on Friday. The company has a current ratio of 9.46, a quick ratio of 9.45 and a debt-to-equity ratio of 5.56. The company has a market capitalization of $385.87 million, a P/E ratio of -1.76 and a beta of 0.48. The firm has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $10.08. Phathom Pharmaceuticals has a twelve month low of $5.84 and a twelve month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.19. As a group, research analysts expect that Phathom Pharmaceuticals will post -3.91 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the sale, the insider now owns 3,755,583 shares in the company, valued at $30,420,222.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,307 shares of Phathom Pharmaceuticals stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $7.75, for a total value of $48,879.25. Following the completion of the sale, the chief financial officer now owns 98,698 shares in the company, valued at approximately $764,909.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the transaction, the insider now owns 3,755,583 shares in the company, valued at $30,420,222.30. The disclosure for this sale can be found here. Company insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in shares of Phathom Pharmaceuticals by 7.7% during the 1st quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $455,000 after buying an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Phathom Pharmaceuticals by 1.7% during the first quarter. JPMorgan Chase & Co. now owns 175,562 shares of the company’s stock worth $2,389,000 after acquiring an additional 3,001 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Phathom Pharmaceuticals by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 61,288 shares of the company’s stock worth $834,000 after purchasing an additional 1,948 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Phathom Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 12,302 shares of the company’s stock worth $167,000 after purchasing an additional 4,540 shares during the period. Finally, Rhumbline Advisers increased its position in Phathom Pharmaceuticals by 16.0% during the 1st quarter. Rhumbline Advisers now owns 19,968 shares of the company’s stock worth $272,000 after purchasing an additional 2,761 shares in the last quarter. Hedge funds and other institutional investors own 93.14% of the company’s stock.

Phathom Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Phathom Pharmaceuticals (NASDAQ:PHAT)

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