Phathom Pharmaceuticals (NASDAQ:PHAT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHATFree Report) in a research note issued to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a $26.00 price objective on the stock.

Separately, The Goldman Sachs Group lifted their price objective on Phathom Pharmaceuticals from $9.00 to $10.00 and gave the stock a neutral rating in a report on Friday, November 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $23.00.

Get Our Latest Stock Report on PHAT

Phathom Pharmaceuticals Trading Down 4.7 %

Phathom Pharmaceuticals stock opened at $6.42 on Friday. The business’s fifty day moving average is $7.99 and its 200 day moving average is $10.00. Phathom Pharmaceuticals has a one year low of $5.84 and a one year high of $17.02. The stock has a market capitalization of $367.56 million, a PE ratio of -1.68 and a beta of 0.48. The company has a debt-to-equity ratio of 5.56, a current ratio of 9.46 and a quick ratio of 9.45.

Insiders Place Their Bets

In related news, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of Phathom Pharmaceuticals stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $8.10, for a total transaction of $29,999,994.30. Following the transaction, the insider now owns 3,755,583 shares in the company, valued at approximately $30,420,222.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Molly Henderson sold 6,307 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $7.75, for a total transaction of $48,879.25. Following the completion of the transaction, the chief financial officer now owns 98,698 shares in the company, valued at $764,909.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Pharmaceutical Co Ltd Takeda sold 3,703,703 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $8.10, for a total value of $29,999,994.30. Following the completion of the sale, the insider now owns 3,755,583 shares in the company, valued at $30,420,222.30. The disclosure for this sale can be found here. Company insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank raised its stake in Phathom Pharmaceuticals by 7.7% during the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock valued at $455,000 after purchasing an additional 2,400 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Phathom Pharmaceuticals by 1.7% during the first quarter. JPMorgan Chase & Co. now owns 175,562 shares of the company’s stock worth $2,389,000 after acquiring an additional 3,001 shares during the last quarter. Bank of New York Mellon Corp raised its position in Phathom Pharmaceuticals by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 61,288 shares of the company’s stock valued at $834,000 after purchasing an additional 1,948 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Phathom Pharmaceuticals by 58.5% in the 1st quarter. MetLife Investment Management LLC now owns 12,302 shares of the company’s stock valued at $167,000 after purchasing an additional 4,540 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Phathom Pharmaceuticals by 16.0% in the 1st quarter. Rhumbline Advisers now owns 19,968 shares of the company’s stock worth $272,000 after purchasing an additional 2,761 shares during the period. 93.14% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Company Profile

(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.

Read More

Analyst Recommendations for Phathom Pharmaceuticals (NASDAQ:PHAT)

Receive News & Ratings for Phathom Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phathom Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.