Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.8571.

Several analysts recently weighed in on PHAT shares. Guggenheim dropped their target price on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Needham & Company LLC reduced their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Barclays decreased their target price on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Finally, Craig Hallum reissued a “buy” rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $8.87 on Monday. The stock has a market cap of $717.58 million, a PE ratio of -6.93 and a beta of 0.51. Phathom Pharmaceuticals has a 12-month low of $8.21 and a 12-month high of $18.31. The company has a 50-day moving average of $10.38 and a 200 day moving average of $11.12.

Institutional Trading of Phathom Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Pale Fire Capital SE purchased a new position in Phathom Pharmaceuticals in the second quarter worth approximately $539,000. Hsbc Holdings PLC purchased a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at approximately $7,702,000. Wellington Management Group LLP raised its holdings in shares of Phathom Pharmaceuticals by 18.4% in the 2nd quarter. Wellington Management Group LLP now owns 132,284 shares of the company’s stock valued at $1,435,000 after purchasing an additional 20,532 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at $922,358,000. Finally, Bank of America Corp DE acquired a new position in shares of Phathom Pharmaceuticals during the second quarter worth $1,639,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.