Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Rating of “Buy” from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given a consensus rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.17.

PHAT has been the topic of several research reports. Guggenheim set a $18.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $4.41 on Monday. Phathom Pharmaceuticals has a one year low of $4.07 and a one year high of $19.71. The company has a market cap of $307.10 million, a P/E ratio of -0.78 and a beta of 0.63. The firm’s fifty day moving average price is $6.02 and its two-hundred day moving average price is $10.87.

Insider Buying and Selling

In related news, insider Terrie Curran sold 19,109 shares of the company’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 $125,928.31. Following the completion of the sale, the insider now owns 360,465 shares of the company’s stock, valued at $2,375,464.35. This represents a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,987 shares of company stock valued at $240,551 over the last quarter. 24.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Phathom Pharmaceuticals by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after acquiring an additional 19,778 shares during the last quarter. Two Sigma Advisers LP bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $1,086,000. Two Sigma Investments LP lifted its holdings in shares of Phathom Pharmaceuticals by 215.4% in the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after acquiring an additional 331,760 shares during the last quarter. Tang Capital Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $4,060,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $90,000. Institutional investors 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.