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

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Monday, Benzinga reports. They currently have a $26.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 144.82% from the company’s previous close.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $10.62 on Monday. The firm has a fifty day moving average of $8.63 and a 200-day moving average of $8.78. The company has a market cap of $621.06 million, a price-to-earnings ratio of -2.74 and a beta of 0.63. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last posted its earnings results on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the prior year, the business earned ($1.33) earnings per share. Analysts predict that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm’s 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 completion of the sale, the insider now directly owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $9.11, for a total transaction of $153,512.61. Following the completion of the sale, the insider now directly owns 410,784 shares in the company, valued at approximately $3,742,242.24. The sale was disclosed in a filing with the SEC, 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 that occurred on Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the transaction, the insider now owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,726,861 shares of company stock valued at $30,202,386. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Kennedy Capital Management LLC bought a new position in Phathom Pharmaceuticals during the second quarter valued at about $15,031,000. Decheng Capital LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth approximately $7,760,000. Catalys Pacific LLC bought a new stake in Phathom Pharmaceuticals during the fourth quarter worth approximately $6,592,000. Woodline Partners LP acquired a new position in Phathom Pharmaceuticals during the second quarter valued at approximately $9,647,000. Finally, BlackRock Inc. raised its position in shares of Phathom Pharmaceuticals by 22.6% in the second quarter. BlackRock Inc. now owns 2,002,632 shares of the company’s stock valued at $28,678,000 after purchasing an additional 369,722 shares during the period. 99.01% of the stock is owned by institutional investors.

About Phathom Pharmaceuticals

(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.

Further Reading

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