Needham & Company LLC Reaffirms “Buy” Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the stock.

PHAT has been the topic of several other reports. Guggenheim reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. The Goldman Sachs Group decreased their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Finally, Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.17.

Phathom Pharmaceuticals Trading Down 7.2 %

NASDAQ:PHAT opened at $4.11 on Wednesday. The stock has a 50 day moving average of $5.47 and a 200-day moving average of $9.16. The firm has a market capitalization of $286.21 million, a PE ratio of -0.72 and a beta of 0.35. Phathom Pharmaceuticals has a 52 week low of $3.81 and a 52 week high of $19.71.

Insider Activity

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 19,109 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. This trade represents a 5.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the transaction, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,256 shares of company stock worth $238,014 over the last three months. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently modified their holdings of PHAT. GAMMA Investing LLC boosted its position in shares of Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock valued at $29,000 after purchasing an additional 4,050 shares during the period. Kera Capital Partners Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 11.2% in the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after buying an additional 3,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Phathom Pharmaceuticals by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after buying an additional 19,778 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $1,086,000. Finally, Two Sigma Investments LP raised its holdings in shares of Phathom Pharmaceuticals by 215.4% during the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after acquiring an additional 331,760 shares during the period. 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.