Phathom Pharmaceuticals (NASDAQ:PHAT) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report issued on Friday, MarketBeat.com reports. The firm issued a buy rating and a $24.00 price objective on the stock.

Separately, Needham & Company LLC restated a buy rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, April 26th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $22.00.

Phathom Pharmaceuticals Trading Up 2.9 %

NASDAQ:PHAT opened at $10.04 on Friday. The firm has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $8.68. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02. The company has a market capitalization of $587.58 million, a P/E ratio of -2.59 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted ($1.33) earnings per share. Equities analysts forecast that Phathom Pharmaceuticals will post -4.22 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Phathom Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after purchasing an additional 5,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Phathom Pharmaceuticals by 371.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock worth $87,000 after acquiring an additional 6,641 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in Phathom Pharmaceuticals in the 4th quarter worth $91,000. Public Employees Retirement System of Ohio purchased a new stake in Phathom Pharmaceuticals in the 3rd quarter worth $92,000. Finally, Klingman & Associates LLC purchased a new stake in Phathom Pharmaceuticals in the 1st quarter worth $110,000. 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.