Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Upgraded by Leerink Partners

Key Points

• Leerink Partners upgraded Phathom Pharmaceuticals to “hold”, while the broader analyst consensus remains “Moderate Buy” with a $21.25 target price.
• Analyst targets have generally declined, with recent objectives ranging from $14 to $26; the stock opened at $8.67, near its one-year low of $8.21.
• Institutional investors own approximately 99.01% of Phathom’s shares, and the company is focused on gastrointestinal treatments, led by its vonoprazan potassium-competitive acid blocker.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) was upgraded by analysts at Leerink Partners to a "hold" rating in a research report issued on Wednesday, Zacks reports.

A number of other equities analysts also recently commented on PHAT. HC Wainwright restated a "buy" rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Needham & Company LLC reduced their price objective on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Guggenheim decreased their price objective 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. Barclays dropped their target price on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Phathom Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $21.25.

Phathom Pharmaceuticals Price Performance

PHAT opened at $8.67 on Wednesday. Phathom Pharmaceuticals has a one year low of $8.21 and a one year high of $18.31. The business has a 50 day simple moving average of $9.97 and a two-hundred day simple moving average of $10.81. The firm has a market capitalization of $701.40 million, a price-to-earnings ratio of -6.77 and a beta of 0.51.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth $27,000. Raymond James Financial Inc. bought a new position in shares of Phathom Pharmaceuticals during the second quarter valued at $30,000. Summit Securities Group LLC purchased a new position in shares of Phathom Pharmaceuticals in the 1st quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter worth about $38,000. Finally, BNP Paribas Financial Markets boosted its stake in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company's stock worth $49,000 after purchasing an additional 2,122 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

About Phathom Pharmaceuticals

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.

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