Phathom Pharmaceuticals (NASDAQ:PHAT) Releases Earnings Results, Beats Expectations By $0.41 EPS

Phathom Pharmaceuticals (NASDAQ:PHAT) released its quarterly earnings data on Thursday. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.41, Zacks reports.

Phathom Pharmaceuticals Stock Down 9.7 %

Shares of PHAT traded down $0.59 during trading hours on Thursday, hitting $5.49. 1,102,247 shares of the company were exchanged, compared to its average volume of 924,725. Phathom Pharmaceuticals has a fifty-two week low of $5.07 and a fifty-two week high of $19.71. The company has a market cap of $375.39 million, a price-to-earnings ratio of -0.97 and a beta of 0.63. The firm’s fifty day moving average is $6.46 and its 200 day moving average is $11.33.

Analysts Set New Price Targets

Several brokerages have issued reports on PHAT. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $23.00.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the sale, the insider now owns 360,465 shares in the company, valued at $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the completion of the transaction, the chief financial officer now directly owns 93,546 shares in the company, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $240,551 over the last three months. Corporate insiders own 24.10% 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.