Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst consensus is “Moderate Buy”: Six of nine analysts rate Phathom Pharmaceuticals a buy, with one strong buy, one hold, and one sell. The average 12-month price target is $21.25.
• Shares have declined: PHAT opened at $8.37, down 3.5%, near its 52-week low of $8.21 and below its 50-day and 200-day moving averages.
• Institutional ownership is high: Institutional investors own 99.01% of the company, with BlackRock, Carlyle Group, and Millennium Management among notable recent investors.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $21.25.

PHAT has been the subject of several research reports. Guggenheim reduced their target price on Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, July 31st. HC Wainwright reissued a "buy" rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Craig Hallum reissued a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Leerink Partners initiated coverage on shares of Phathom Pharmaceuticals in a research note on Wednesday. They issued a "market perform" rating and a $10.00 price objective for the company. Finally, Needham & Company LLC reduced their price objective on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, July 30th.

Phathom Pharmaceuticals Trading Down 3.5%

Shares of NASDAQ:PHAT opened at $8.37 on Friday. Phathom Pharmaceuticals has a 1-year low of $8.21 and a 1-year high of $18.31. The firm has a market capitalization of $677.13 million, a PE ratio of -6.54 and a beta of 0.51. The business's 50 day moving average is $9.91 and its 200-day moving average is $10.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Phathom Pharmaceuticals in the 2nd quarter worth approximately $49,098,000. Carlyle Group Inc. acquired a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at $37,940,000. Millennium Management LLC boosted its stake in Phathom Pharmaceuticals by 125.8% in the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company's stock valued at $59,809,000 after buying an additional 2,830,954 shares in the last quarter. Perceptive Advisors LLC bought a new stake in Phathom Pharmaceuticals in the first quarter valued at $10,277,000. Finally, Hsbc Holdings PLC bought a new stake in Phathom Pharmaceuticals in the second quarter valued at $7,702,000. Institutional investors 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.

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