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

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $28.00 price target on the stock. Needham & Company LLC's price objective points to a potential upside of 480.91% from the stock's current price.

A number of other analysts have also weighed in on the stock. Guggenheim set a $18.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. The Goldman Sachs Group decreased their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $22.17.

Phathom Pharmaceuticals Price Performance

Shares of PHAT traded down $0.06 during mid-day trading on Wednesday, reaching $4.82. 285,176 shares of the company's stock traded hands, compared to its average volume of 1,003,667. Phathom Pharmaceuticals has a 12 month low of $4.07 and a 12 month high of $19.71. The stock has a market cap of $335.65 million, a P/E ratio of -0.84 and a beta of 0.35. The stock's 50-day moving average is $5.69 and its two-hundred day moving average is $9.61.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 19,109 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $125,928.31. Following the sale, the insider now owns 360,465 shares of the company's stock, valued at $2,375,464.35. This trade represents a 5.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Azmi Nabulsi sold 7,886 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 value of $51,968.74. Following the completion of the transaction, the chief operating officer now owns 233,390 shares of the company's stock, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,578 shares of company stock valued at $221,279. 24.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth about $74,000. Teacher Retirement System of Texas acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $90,000. Rafferty Asset Management LLC purchased a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $90,000. Versor Investments LP acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at $101,000. Finally, Virtu Financial LLC purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at $109,000. Institutional investors and hedge funds own 99.01% of the company's stock.

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.