Phathom Pharmaceuticals (NASDAQ:PHAT) Posts Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.29) by $0.41, Zacks reports. The business had revenue of $29.66 million during the quarter, compared to the consensus estimate of $25.65 million.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock traded down $0.66 on Monday, hitting $4.40. 1,822,086 shares of the company's stock were exchanged, compared to its average volume of 936,861. Phathom Pharmaceuticals has a 12 month low of $4.35 and a 12 month high of $19.71. The company has a 50 day moving average of $6.35 and a 200 day moving average of $11.22. The stock has a market cap of $300.86 million, a P/E ratio of -0.77 and a beta of 0.63.

Insiders Place Their Bets

In related news, insider Terrie Curran sold 19,109 shares of Phathom Pharmaceuticals 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 directly owns 360,465 shares of the company's stock, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Molly Henderson sold 6,583 shares of the company's 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 $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares of the company's stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

PHAT has been the subject of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating on the stock in a research report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday. Finally, Craig Hallum reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $22.17.

Phathom Pharmaceuticals Company Profile

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.