Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Friday,Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

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

Phathom Pharmaceuticals Trading Down 0.1 %

NASDAQ:PHAT opened at $6.94 on Friday. Phathom Pharmaceuticals has a 12-month low of $6.07 and a 12-month high of $19.71. The stock’s 50 day simple moving average is $9.43 and its 200-day simple moving average is $12.71. The firm has a market cap of $474.54 million, a P/E ratio of -1.22 and a beta of 0.56.

Insiders Place Their Bets

In related news, Director Frank Karbe bought 12,500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $7.93 per share, with a total value of $99,125.00. Following the completion of the acquisition, the director now owns 57,000 shares in the company, valued at approximately $452,010. This represents a 28.09 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank increased 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 acquiring an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Phathom Pharmaceuticals by 41.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares in the last quarter. US Bancorp DE raised its position in shares of Phathom Pharmaceuticals by 28.6% during the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Phathom Pharmaceuticals by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock valued at $144,000 after buying an additional 1,339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Phathom Pharmaceuticals by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,025 shares of the company’s stock valued at $1,772,000 after buying an additional 4,871 shares during the last quarter. 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.