Phathom Pharmaceuticals (NASDAQ:PHAT) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Friday morning, 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 report on Friday, April 26th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $22.00.

Phathom Pharmaceuticals Trading Up 8.0 %

Phathom Pharmaceuticals stock opened at $10.84 on Friday. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $17.02. The firm has a 50-day moving average price of $9.80 and a 200-day moving average price of $8.69. The firm has a market capitalization of $634.36 million, a PE ratio of -2.79 and a beta of 0.67.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted 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 firm had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.93 million. During the same period last year, the company earned ($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 fiscal year.

Insiders Place Their Bets

In other news, 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 completion of the sale, the insider now owns 410,784 shares of the company’s stock, valued at $3,742,242.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Terrie Curran sold 16,851 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was 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 $3,742,242.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Molly Henderson sold 3,435 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was 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 directly owns 95,263 shares of the company’s stock, valued at $1,057,419.30. The disclosure for this sale can be found here. Insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. lifted its holdings in Phathom Pharmaceuticals by 355.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock worth $60,000 after buying an additional 5,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 worth $87,000 after purchasing an additional 6,641 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $91,000. Public Employees Retirement System of Ohio purchased a new position in Phathom Pharmaceuticals in the third quarter valued at about $92,000. Finally, Klingman & Associates LLC bought a new position in Phathom Pharmaceuticals in the first quarter worth about $110,000. 99.01% of the stock is currently owned by 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.