Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $28.00 price objective on the stock. Needham & Company LLC's target price indicates a potential upside of 499.57% from the stock's previous close.
Other research analysts also recently issued reports about the stock. 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 research report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. The Goldman Sachs Group dropped their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Finally, Guggenheim reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $22.17.
Check Out Our Latest Stock Report on PHAT
Phathom Pharmaceuticals Price Performance
Phathom Pharmaceuticals stock traded down $0.21 during mid-day trading on Wednesday, hitting $4.67. The company's stock had a trading volume of 307,985 shares, compared to its average volume of 1,003,744. Phathom Pharmaceuticals has a 52-week low of $3.81 and a 52-week high of $19.71. The firm's 50 day moving average is $5.45 and its 200 day moving average is $9.01. The company has a market cap of $325.20 million, a PE ratio of -0.82 and a beta of 0.35.
Insider Transactions at Phathom Pharmaceuticals
In related news, insider Terrie Curran sold 19,109 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Molly Henderson sold 6,583 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 value of $43,381.97. Following the completion of the sale, the chief financial officer now directly owns 93,546 shares in the company, valued at $616,468.14. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,256 shares of company stock worth $238,014. 24.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after purchasing an additional 4,050 shares during the period. Kera Capital Partners Inc. raised its holdings in Phathom Pharmaceuticals by 11.2% in the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company's stock valued at $187,000 after acquiring an additional 3,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Phathom Pharmaceuticals by 20.2% during the 4th 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 in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $1,086,000. Finally, Two Sigma Investments LP raised its stake in shares of Phathom Pharmaceuticals by 215.4% in the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company's stock valued at $3,945,000 after purchasing an additional 331,760 shares in the last quarter. 99.01% of the stock is owned by institutional investors.
Phathom Pharmaceuticals Company Profile
(
Get Free Report)
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.
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