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

Needham & Company LLC reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Monday, Benzinga reports. They currently have a $26.00 price objective on the stock.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $9.86 on Monday. The firm has a market cap of $576.61 million, a price-to-earnings ratio of -2.54 and a beta of 0.63. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $17.02. The firm has a 50 day moving average price of $8.80 and a 200-day moving average price of $8.75.

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, topping analysts’ consensus estimates of ($0.92) by $0.12. The business had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.93 million. During the same quarter in the previous year, the firm posted ($1.33) earnings per share. As a group, equities research analysts predict that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.

Insider Transactions at Phathom Pharmaceuticals

In related news, CFO Molly Henderson sold 6,307 shares of Phathom Pharmaceuticals stock in a transaction on Friday, January 19th. The shares were sold at an average price of $7.75, for a total value of $48,879.25. Following the transaction, the chief financial officer now directly owns 98,698 shares of the company’s stock, valued at $764,909.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of Phathom Pharmaceuticals stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total value of $29,999,994.30. Following the transaction, the insider now directly owns 3,755,583 shares of the company’s stock, valued at $30,420,222.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Molly Henderson sold 6,307 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $7.75, for a total transaction of $48,879.25. Following the transaction, the chief financial officer now directly owns 98,698 shares in the company, valued at $764,909.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,726,861 shares of company stock worth $30,202,386. 7.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in Phathom Pharmaceuticals by 112.6% during the 2nd quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock valued at $46,000 after purchasing an additional 2,927 shares during the period. Legal & General Group Plc increased its position in Phathom Pharmaceuticals by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock valued at $54,000 after purchasing an additional 1,061 shares during the period. Osaic Holdings Inc. increased its position in Phathom Pharmaceuticals by 2,715.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock valued at $59,000 after purchasing an additional 4,100 shares during the period. China Universal Asset Management Co. Ltd. increased its position in 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 6,641 shares in the last quarter. 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.