Phathom Pharmaceuticals (NASDAQ:PHAT) Receives Buy Rating from Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $28.00 price target on the stock.

Several other brokerages have also recently commented on PHAT. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Guggenheim reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their target price on Phathom Pharmaceuticals from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of “Buy” and an average price target of $21.83.

Phathom Pharmaceuticals Trading Down 4.5 %

Shares of PHAT opened at $4.03 on Monday. The firm has a market capitalization of $280.64 million, a PE ratio of -0.71 and a beta of 0.35. The stock’s 50 day moving average is $5.30 and its two-hundred day moving average is $8.55. Phathom Pharmaceuticals has a twelve month low of $3.81 and a twelve month high of $19.71.

Insider Activity at Phathom Pharmaceuticals

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

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in PHAT. GAMMA Investing LLC increased its stake in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock valued at $29,000 after acquiring an additional 4,050 shares during the last quarter. Kera Capital Partners Inc. increased its position in Phathom Pharmaceuticals by 11.2% during the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after purchasing an additional 3,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Phathom Pharmaceuticals by 20.2% during 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 purchasing an additional 19,778 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $1,086,000. Finally, Two Sigma Investments LP grew its stake in shares of Phathom Pharmaceuticals by 215.4% during the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after buying an additional 331,760 shares during the period. 99.01% of the stock is 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.