Needham Issues a Buy Rating on Phathom Pharmaceuticals (PHAT)

Needham analyst Joseph Stringer assigned a Buy rating to Phathom Pharmaceuticals (PHAT) today and set a price target of $55.00. The company’s shares closed last Thursday at $39.81.

According to, Stringer has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.0% and a 32.6% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Lexicon Pharmaceuticals, and Crispr Therapeutics AG.

Currently, the analyst consensus on Phathom Pharmaceuticals is a Strong Buy with an average price target of $61.00, a 52.7% upside from current levels. In a report released yesterday, JonesTrading also reiterated a Buy rating on the stock.

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Phathom Pharmaceuticals’ market cap is currently $1.14B and has a P/E ratio of -10.30. The company has a Price to Book ratio of 5.85.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PHAT in relation to earlier this year.

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Phathom Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. It develops Vonoprazan, a potassium-competitive acid blocker. The company was founded by Tadataka Yamada, David Socks, Azmi Nabulsi, Aditya Kohli, and Roger Ulrich on January 9, 2018 and is headquartered in Buffalo Grove, IL.

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