Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research report released on Friday, Benzinga reports. They currently have a $26.00 target price on the stock.
Phathom Pharmaceuticals Price Performance
Shares of PHAT stock opened at $9.35 on Friday. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $17.02. The firm has a market cap of $547.16 million, a PE ratio of -2.41 and a beta of 0.63. The company has a 50-day moving average of $9.85 and a two-hundred day moving average of $8.68.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) 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 company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.93 million. During the same period in the previous year, the business posted ($1.33) EPS. Sell-side analysts anticipate that Phathom Pharmaceuticals will post -4.22 EPS for the current fiscal year.
Insider Buying and Selling
Institutional Trading of Phathom Pharmaceuticals
Large investors have recently modified their holdings of the stock. Medicxi Ventures Management Jersey Ltd boosted its holdings in Phathom Pharmaceuticals by 98.5% in the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock valued at $79,274,000 after purchasing an additional 3,703,703 shares during the period. Decheng Capital LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $7,760,000. Catalys Pacific LLC purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $6,592,000. Vanguard Group Inc. grew its position in shares of Phathom Pharmaceuticals by 10.3% during the third quarter. Vanguard Group Inc. now owns 1,922,662 shares of the company’s stock worth $19,938,000 after buying an additional 180,325 shares in the last quarter. Finally, Avidity Partners Management LP grew its position in shares of Phathom Pharmaceuticals by 6.4% during the fourth quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after buying an additional 104,280 shares in the last quarter. Hedge funds and other 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.
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