Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $28.00 price objective on the stock.

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

Phathom Pharmaceuticals Trading Down 2.6 %

NASDAQ PHAT opened at $4.88 on Wednesday. The stock has a market capitalization of $339.83 million, a price-to-earnings ratio of -0.86 and a beta of 0.35. The stock has a 50-day moving average of $5.69 and a 200 day moving average of $9.74. Phathom Pharmaceuticals has a twelve month low of $4.07 and a twelve month high of $19.71.

Insider Activity

In other news, CFO Molly Henderson sold 6,583 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrie Curran sold 19,109 shares of the firm’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 sale, the insider now owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,578 shares of company stock worth $221,279 over the last ninety days. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $74,000. Teacher Retirement System of Texas purchased a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $90,000. Rafferty Asset Management LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. Versor Investments LP purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth $101,000. Finally, Virtu Financial LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth about $109,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

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.