Phathom Pharmaceuticals (NASDAQ:PHAT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Wednesday morning,Benzinga reports. They currently have a $28.00 price objective on the stock.

PHAT has been the topic of several other research reports. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group cut their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Guggenheim set a $18.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $5.49 on Wednesday. Phathom Pharmaceuticals has a 1 year low of $4.07 and a 1 year high of $19.71. The firm has a fifty day moving average of $5.77 and a 200-day moving average of $9.87. The company has a market cap of $382.31 million, a price-to-earnings ratio of -0.96 and a beta of 0.63.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the sale, the chief operating officer now owns 233,390 shares of the company’s stock, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the transaction, the insider now owns 360,465 shares in the company, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,578 shares of company stock valued at $221,279 over the last quarter. Insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Kera Capital Partners Inc. raised its stake in shares of Phathom Pharmaceuticals by 11.2% in the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock valued at $187,000 after acquiring an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Phathom Pharmaceuticals by 18.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company’s stock valued at $180,000 after purchasing an additional 3,408 shares in the last quarter. ProShare Advisors LLC increased its holdings in Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock valued at $116,000 after purchasing an additional 3,804 shares in the last quarter. Bank of New York Mellon Corp raised its position in Phathom Pharmaceuticals by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Phathom Pharmaceuticals by 21.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,641 shares of the company’s stock worth $209,000 after purchasing an additional 4,592 shares in the last quarter. Institutional investors and hedge funds 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.