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

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

Phathom Pharmaceuticals Stock Up 0.9 %

Phathom Pharmaceuticals stock opened at $9.18 on Friday. The company has a 50 day moving average price of $9.85 and a 200 day moving average price of $8.70. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.80) EPS for the quarter, topping 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 business posted ($1.33) EPS. Research 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, insider Terrie Curran sold 16,851 shares of Phathom Pharmaceuticals stock in a transaction 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 completion of the sale, the insider now owns 410,784 shares of the company’s stock, valued at approximately $3,742,242.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 3,435 shares of Phathom Pharmaceuticals stock in a transaction 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 sale, the chief financial officer now owns 95,263 shares of the company’s stock, valued at approximately $1,057,419.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction 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 owns 410,784 shares in the company, valued at approximately $3,742,242.24. The disclosure for this sale can be found here. Company insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PHAT. SG Americas Securities LLC bought a new position in shares of Phathom Pharmaceuticals during the 3rd quarter valued at $126,000. Bank of New York Mellon Corp raised its holdings in shares of Phathom Pharmaceuticals by 21.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 95,065 shares of the company’s stock valued at $986,000 after purchasing an additional 16,478 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Phathom Pharmaceuticals by 371.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after purchasing an additional 6,641 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Phathom Pharmaceuticals by 11.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,801 shares of the company’s stock valued at $122,000 after purchasing an additional 1,259 shares in the last quarter. Finally, Barclays PLC raised its holdings in Phathom Pharmaceuticals by 22.4% in the 3rd quarter. Barclays PLC now owns 13,235 shares of the company’s stock worth $137,000 after acquiring an additional 2,422 shares during the period. Institutional investors own 99.01% of the company’s stock.

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.