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

Needham & Company LLC reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $26.00 price objective on the stock.

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

Read Our Latest Research Report on PHAT

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $6.42 on Friday. Phathom Pharmaceuticals has a 12-month low of $5.84 and a 12-month high of $17.02. The company has a debt-to-equity ratio of 5.56, a current ratio of 9.46 and a quick ratio of 9.45. The company has a market capitalization of $367.56 million, a price-to-earnings ratio of -1.68 and a beta of 0.48. The firm’s fifty day moving average price is $7.99 and its 200 day moving average price is $10.00.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 3,755,583 shares of the company’s stock, valued at approximately $30,420,222.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Molly Henderson sold 6,307 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $7.75, for a total transaction of $48,879.25. Following the sale, the chief financial officer now directly owns 98,698 shares of the company’s stock, valued at approximately $764,909.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $30,420,222.30. The disclosure for this sale can be found here. 27.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PHAT. Swiss National Bank lifted its holdings in Phathom Pharmaceuticals by 7.7% in the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $455,000 after acquiring an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Phathom Pharmaceuticals by 1.7% during the 1st quarter. JPMorgan Chase & Co. now owns 175,562 shares of the company’s stock worth $2,389,000 after purchasing an additional 3,001 shares during the period. Bank of New York Mellon Corp lifted 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 last quarter. MetLife Investment Management LLC boosted its position in Phathom Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 12,302 shares of the company’s stock valued at $167,000 after purchasing an additional 4,540 shares during the period. Finally, Rhumbline Advisers grew its stake 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 buying an additional 2,761 shares during the last quarter. 93.14% of the stock is owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

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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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