Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 14.7% – Still a Buy?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shot up 14.7% during mid-day trading on Wednesday. The company traded as high as $6.21 and last traded at $6.25. 1,052,587 shares were traded during trading, a decline of 19% from the average session volume of 1,307,454 shares. The stock had previously closed at $5.45.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PHAT. Citigroup restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, October 15th. Craig Hallum reiterated a “buy” rating and set a $15.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 21st. Barclays decreased their price objective 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, Leerink Partners assumed coverage on Phathom Pharmaceuticals in a research note on Wednesday, September 9th. They issued a “market perform” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Phathom Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

Phathom Pharmaceuticals Trading Up 14.5%

The stock has a market capitalization of $507.25 million, a PE ratio of -6.07 and a beta of 0.69. The stock’s fifty day simple moving average is $7.15 and its 200-day simple moving average is $10.15.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Phathom Pharmaceuticals during the third quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Phathom Pharmaceuticals in the 3rd quarter valued at about $30,000. State of Wyoming bought a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth approximately $55,000. Allworth Financial LP lifted its position in shares of Phathom Pharmaceuticals by 26.1% during the 3rd quarter. Allworth Financial LP now owns 13,172 shares of the company’s stock worth $96,000 after buying an additional 2,729 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Phathom Pharmaceuticals by 16.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,761 shares of the company’s stock worth $109,000 after buying an additional 2,068 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. Founded in 2018, the company is based in Florham Park, New Jersey, and concentrates its commercial activities on the U.S. market. Its primary product is Voquezna (vonoprazan), an acid blocker used to treat certain conditions involving gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD. Vonoprazan is also used with antibiotics to treat Helicobacter pylori infection.