Phathom Pharmaceuticals (NASDAQ:PHAT) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $24.00 price objective on the stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, April 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $22.00.

Phathom Pharmaceuticals Stock Up 2.9 %

NASDAQ PHAT opened at $10.04 on Friday. The company has a market capitalization of $587.58 million, a price-to-earnings ratio of -2.59 and a beta of 0.67. Phathom Pharmaceuticals has a twelve month low of $6.07 and a twelve month high of $17.02. The stock has a fifty day simple moving average of $9.78 and a 200 day simple moving average of $8.68.

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, beating analysts’ consensus estimates of ($0.92) by $0.12. The company had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.93 million. During the same quarter in the previous year, the company earned ($1.33) earnings per share. Research analysts expect that Phathom Pharmaceuticals will post -4.22 earnings per share for the current fiscal year.

Insider Transactions at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Terrie Curran sold 16,851 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,742,242.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Molly Henderson sold 3,435 shares of the 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 transaction, the chief financial officer now directly owns 95,263 shares in the company, valued at approximately $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 institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. lifted its position in Phathom Pharmaceuticals by 355.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after acquiring an additional 5,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Phathom Pharmaceuticals by 371.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,429 shares of the company’s stock valued at $87,000 after acquiring an additional 6,641 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $91,000. Public Employees Retirement System of Ohio bought a new position in Phathom Pharmaceuticals in the 3rd quarter valued at about $92,000. Finally, Klingman & Associates LLC bought a new position in Phathom Pharmaceuticals in the 1st quarter valued at about $110,000. 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.