Phathom Pharmaceuticals' (PHAT) "Buy" Rating Reiterated 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 research report issued on Friday,Benzinga reports. They presently have a $28.00 target price on the stock. Needham & Company LLC's target price suggests a potential upside of 303.46% from the stock's previous close.

Separately, HC Wainwright reiterated a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT traded down $0.01 during trading on Friday, hitting $6.94. The company's stock had a trading volume of 995,736 shares, compared to its average volume of 856,839. Phathom Pharmaceuticals has a fifty-two week low of $6.07 and a fifty-two week high of $19.71. The company has a market cap of $474.54 million, a PE ratio of -1.22 and a beta of 0.56. The business's 50 day simple moving average is $9.43 and its 200-day simple moving average is $12.71.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, Director Frank Karbe purchased 12,500 shares of Phathom Pharmaceuticals stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $7.93 per share, with a total value of $99,125.00. Following the transaction, the director now owns 57,000 shares of the company's stock, valued at $452,010. This represents a 28.09 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 24.10% of the company's stock.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in PHAT. Huntington National Bank boosted its holdings in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company's stock valued at $27,000 after purchasing an additional 564 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company's stock valued at $43,000 after acquiring an additional 722 shares in the last quarter. US Bancorp DE lifted its holdings in Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company's stock valued at $95,000 after acquiring an additional 1,166 shares during the period. Quest Partners LLC purchased a new stake in Phathom Pharmaceuticals in the 3rd quarter worth approximately $197,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Phathom Pharmaceuticals during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 99.01% of the company's stock.

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.