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

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research note published on Monday, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus started coverage on Phathom Pharmaceuticals in a research report on Friday, May 3rd. They set a buy rating and a $24.00 target price on the stock. HC Wainwright reiterated a buy rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, May 10th.

Check Out Our Latest Report on Phathom Pharmaceuticals

Phathom Pharmaceuticals Stock Down 0.6 %

PHAT opened at $10.45 on Monday. The business has a 50 day moving average price of $10.51 and a two-hundred day moving average price of $9.47. The company has a market cap of $611.69 million, a PE ratio of -2.37 and a beta of 0.68. Phathom Pharmaceuticals has a 52 week low of $6.07 and a 52 week high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHATGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($1.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.43) by $0.01. The business had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.76 million. As a group, sell-side analysts expect that Phathom Pharmaceuticals will post -5.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Catalys Pacific LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $6,592,000. Jennison Associates LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 1st quarter worth approximately $17,499,000. Avidity Partners Management LP grew its holdings in shares of Phathom Pharmaceuticals by 6.4% in the 4th quarter. Avidity Partners Management LP now owns 1,721,580 shares of the company’s stock worth $15,718,000 after acquiring an additional 104,280 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of 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 worth $60,000 after acquiring an additional 5,171 shares during the period. Finally, Medicxi Ventures Management Jersey Ltd grew its holdings in shares of Phathom Pharmaceuticals by 98.5% in the 1st quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company’s stock worth $79,274,000 after acquiring an additional 3,703,703 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

(Get Free Report)

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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