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

Needham & Company LLC reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report published on Friday, Benzinga reports. They currently have a $26.00 target price on the stock.

Phathom Pharmaceuticals Stock Performance

PHAT opened at $9.18 on Friday. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $17.02. The firm’s 50-day moving average price is $9.85 and its 200 day moving average price is $8.68.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the previous year, the firm posted ($1.33) earnings per share. As a group, sell-side analysts predict that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the transaction, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $11.10, for a total value of $38,128.50. Following the transaction, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $1,057,419.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrie Curran sold 16,851 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $9.11, for a total transaction of $153,512.61. Following the completion of the transaction, the insider now owns 410,784 shares in the company, valued at $3,742,242.24. The disclosure for this sale can be found here. 24.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Medicxi Ventures Management Jersey Ltd lifted its holdings in shares of Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after acquiring an additional 3,703,703 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Phathom Pharmaceuticals by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company’s stock worth $1,410,000 after acquiring an additional 54,581 shares during the last quarter. Octagon Capital Advisors LP acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $456,000. Avidity Partners Management LP lifted its holdings in shares of Phathom Pharmaceuticals by 6.4% in the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after acquiring an additional 104,280 shares during the last quarter. Finally, Catalys Pacific LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $6,592,000. 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.