Needham & Company LLC reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research report released on Friday, Benzinga reports. The brokerage currently has a $26.00 price objective on the stock.
Phathom Pharmaceuticals Stock Down 5.4 %
Shares of PHAT stock opened at $8.97 on Friday. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $17.02. The company has a 50-day simple moving average of $9.65 and a two-hundred day simple moving average of $8.75.
Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.12. The company had revenue of $0.68 million for the quarter, compared to the consensus estimate of $0.93 million. During the same period in the prior year, the company earned ($1.33) earnings per share. Equities research analysts predict that Phathom Pharmaceuticals will post -4.22 earnings per share for the current year.
Insider Activity
Institutional Trading of Phathom Pharmaceuticals
A number of institutional investors have recently modified their holdings of PHAT. Quantbot Technologies LP lifted its stake in shares of Phathom Pharmaceuticals by 112.6% during the 2nd quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock valued at $46,000 after buying an additional 2,927 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Phathom Pharmaceuticals by 20.1% during the 2nd quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock valued at $54,000 after buying an additional 1,061 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Phathom Pharmaceuticals by 2,715.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,251 shares of the company’s stock valued at $59,000 after buying an additional 4,100 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Phathom Pharmaceuticals by 355.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,626 shares of the company’s stock valued at $60,000 after buying an additional 5,171 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter worth approximately $87,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.
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.
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