Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) from a sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “Phathom Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on developing and commercializing novel treatments for gastrointestinal diseases. The company’s product pipeline consists of vonoprazan, which are in clinical stage. Phathom Pharmaceuticals Inc. is based in Buffalo Grove, United States. “

NASDAQ:PHAT opened at $7.81 on Friday. Phathom Pharmaceuticals has a 12-month low of $6.74 and a 12-month high of $38.26. The firm has a market capitalization of $305.15 million, a P/E ratio of -1.95 and a beta of 0.93. The company has a debt-to-equity ratio of 2.39, a current ratio of 12.79 and a quick ratio of 12.79. The business has a 50 day simple moving average of $12.61 and a 200 day simple moving average of $16.15.

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.09). Research analysts anticipate that Phathom Pharmaceuticals will post -4.03 EPS for the current fiscal year.

In related news, Director Asit Parikh bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $100,000.00. Following the acquisition, the director now directly owns 12,500 shares of the company’s stock, valued at approximately $100,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Azmi Nabulsi purchased 20,000 shares of the stock in a transaction dated Monday, May 16th. The shares were acquired at an average price of $8.16 per share, for a total transaction of $163,200.00. Following the acquisition, the chief operating officer now directly owns 785,700 shares of the company’s stock, valued at approximately $6,411,312. The disclosure for this purchase can be found here. Insiders have acquired a total of 53,000 shares of company stock worth $415,105 in the last ninety days. 7.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Phathom Pharmaceuticals by 1.9% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 556,293 shares of the company’s stock worth $7,571,000 after buying an additional 10,238 shares during the last quarter. State Street Corp lifted its position in shares of Phathom Pharmaceuticals by 6.8% in the first quarter. State Street Corp now owns 365,044 shares of the company’s stock worth $4,968,000 after buying an additional 23,104 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter worth about $79,311,000. Rhenman & Partners Asset Management AB lifted its position in shares of Phathom Pharmaceuticals by 26.3% in the first quarter. Rhenman & Partners Asset Management AB now owns 235,210 shares of the company’s stock worth $3,201,000 after buying an additional 49,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Phathom Pharmaceuticals by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 126,187 shares of the company’s stock worth $1,718,000 after buying an additional 2,888 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.

Phathom Pharmaceuticals Company Profile (Get Rating)

Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.

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