Phathom Pharmaceuticals' (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $28.00 price objective on the stock.

A number of other research firms have also issued reports on PHAT. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Phathom Pharmaceuticals presently has an average rating of "Buy" and an average target price of $22.17.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT traded down $0.66 on Thursday, hitting $4.40. 1,822,086 shares of the company's stock were exchanged, compared to its average volume of 936,861. The firm has a market cap of $300.86 million, a price-to-earnings ratio of -0.77 and a beta of 0.63. The firm's 50-day moving average price is $6.28 and its two-hundred day moving average price is $11.16. Phathom Pharmaceuticals has a fifty-two week low of $4.35 and a fifty-two week high of $19.71.

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Insider Transactions at Phathom Pharmaceuticals

In related news, COO Azmi Nabulsi sold 7,886 shares of the company's 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 completion of the sale, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Molly Henderson sold 6,583 shares of the company's stock in a transaction 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 completion of the sale, the chief financial officer now owns 93,546 shares of the company's stock, valued at $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 three months, insiders sold 35,987 shares of company stock worth $240,551. Company insiders own 24.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Huntington National Bank lifted its holdings in Phathom Pharmaceuticals by 62.2% during the 3rd 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. US Bancorp DE increased its stake in shares of Phathom Pharmaceuticals by 28.6% in the 3rd 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Phathom Pharmaceuticals by 18.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company's stock worth $180,000 after purchasing an additional 3,408 shares during the period. ProShare Advisors LLC raised its stake in Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after buying an additional 3,804 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after purchasing an additional 4,557 shares during the period. 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.