Phathom Pharmaceuticals (NASDAQ:PHAT) PT Raised to $12.00

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target raised by investment analysts at The Goldman Sachs Group from $10.00 to $12.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 2.13% from the stock’s current price.

PHAT has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 26th. Stifel Nicolaus started coverage on shares of Phathom Pharmaceuticals in a report on Friday, May 3rd. They set a “buy” rating and a $24.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 19th.

Phathom Pharmaceuticals Price Performance

PHAT remained flat at $11.75 during mid-day trading on Friday. 913,444 shares of the company’s stock traded hands, compared to its average volume of 859,589. The business’s fifty day simple moving average is $11.09 and its two-hundred day simple moving average is $9.97. The firm has a market cap of $687.73 million, a price-to-earnings ratio of -2.66 and a beta of 0.68. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $17.02.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.42) EPS for the quarter, beating analysts’ consensus estimates of ($1.43) by $0.01. The firm had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.76 million. As a group, analysts forecast that Phathom Pharmaceuticals will post -5.57 earnings per share for the current year.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 10,901 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $127,759.72. Following the completion of the transaction, the chief operating officer now owns 240,421 shares of the company’s stock, valued at approximately $2,817,734.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Azmi Nabulsi sold 10,901 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $11.72, for a total value of $127,759.72. Following the sale, the chief operating officer now owns 240,421 shares of the company’s stock, valued at $2,817,734.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Terrie Curran sold 33,848 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $11.72, for a total transaction of $396,698.56. Following the transaction, the insider now owns 377,734 shares of the company’s stock, valued at approximately $4,427,042.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,074 shares of company stock valued at $575,147. 24.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC acquired a new position in Phathom Pharmaceuticals during the fourth quarter valued at approximately $91,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares during the last quarter. Klingman & Associates LLC bought a new position in shares of Phathom Pharmaceuticals in the first quarter valued at $110,000. China Universal Asset Management Co. Ltd. increased its holdings in Phathom Pharmaceuticals by 65.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 10,989 shares of the company’s stock worth $117,000 after buying an additional 4,363 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Phathom Pharmaceuticals during the first quarter worth $119,000. Institutional investors 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.