Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $26.00 price objective on the stock.
Phathom Pharmaceuticals Trading Down 5.4 %
Shares of NASDAQ:PHAT opened at $8.97 on Friday. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The company has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $8.75.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.12. The firm had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same quarter last year, the business posted ($1.33) earnings per share. On average, equities research analysts anticipate that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.
Insiders Place Their Bets
Institutional Investors Weigh In On Phathom Pharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in PHAT. Medicxi Ventures Management Jersey Ltd raised its position in shares of Phathom Pharmaceuticals by 98.5% in the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after buying an additional 3,703,703 shares in the last quarter. Decheng Capital LLC acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $7,760,000. Catalys Pacific LLC acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $6,592,000. Woodline Partners LP acquired a new stake in shares of Phathom Pharmaceuticals in 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 buying an additional 369,722 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.
About Phathom Pharmaceuticals
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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