Needham & Company LLC Reaffirms Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $28.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 303.46% from the stock’s current price.

Separately, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th.

Phathom Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ PHAT opened at $6.94 on Friday. The stock’s 50 day moving average price is $9.43 and its two-hundred day moving average price is $12.73. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $19.71. The stock has a market capitalization of $474.54 million, a P/E ratio of -1.22 and a beta of 0.56.

Insider Transactions at Phathom Pharmaceuticals

In related news, Director Frank Karbe purchased 12,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the transaction, the director now owns 57,000 shares of the company’s stock, valued at $452,010. This trade represents a 28.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank raised its position in shares of Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after purchasing an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Phathom Pharmaceuticals by 41.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after buying an additional 722 shares in the last quarter. US Bancorp DE grew its holdings in Phathom Pharmaceuticals by 28.6% in the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after buying an additional 1,166 shares in the last quarter. Quest Partners LLC bought a new position in Phathom Pharmaceuticals in the 3rd quarter worth approximately $197,000. Finally, Intech Investment Management LLC bought a new position in Phathom Pharmaceuticals in the 3rd quarter worth approximately $207,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.