Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Rated "Moderate Buy" by Wall Street Brokerages

Key Points

• Analysts rate Phathom Pharmaceuticals “Moderate Buy”: Six analysts recommend buying the stock, one recommends a strong buy, while one rates it a hold and one a sell. The average 12-month price target is $21.25.
• PHAT shares have fallen significantly: The stock opened at $6.70, near its 12-month low of $6.64, compared with a high of $18.31. Several brokerages recently lowered their price targets, including Barclays to $14 and Needham to $22.
• Institutional ownership is high: Institutional investors own 99.01% of the company, with BlackRock and Carlyle Group among the investors that recently established sizable positions. Phathom’s core product is Voquezna, a vonoprazan-based treatment for certain gastrointestinal and reflux conditions.

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.25.

A number of brokerages have issued reports on PHAT. HC Wainwright reiterated a "buy" rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Barclays reduced their price objective on Phathom Pharmaceuticals from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. 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. Needham & Company LLC dropped their target price 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th.

Phathom Pharmaceuticals Stock Down 3.2%

Shares of NASDAQ:PHAT opened at $6.70 on Tuesday. The firm has a market cap of $542.03 million, a PE ratio of -5.23 and a beta of 0.50. The company's 50 day moving average price is $8.57 and its two-hundred day moving average price is $10.34. Phathom Pharmaceuticals has a 12-month low of $6.64 and a 12-month high of $18.31.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of PHAT. BlackRock Inc. bought a new stake in Phathom Pharmaceuticals during the 2nd quarter worth $49,098,000. Carlyle Group Inc. bought a new position in Phathom Pharmaceuticals in the second quarter valued at about $37,940,000. GW&K Investment Management LLC raised its position in Phathom Pharmaceuticals by 14.2% in the fourth quarter. GW&K Investment Management LLC now owns 1,306,678 shares of the company's stock valued at $21,678,000 after purchasing an additional 162,348 shares during the last quarter. Wasatch Advisors LP boosted its stake in shares of Phathom Pharmaceuticals by 0.7% during the first quarter. Wasatch Advisors LP now owns 1,340,916 shares of the company's stock valued at $14,898,000 after purchasing an additional 9,247 shares in the last quarter. Finally, SummitTX Capital L.P. boosted its stake in shares of Phathom Pharmaceuticals by 92.3% during the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company's stock valued at $11,064,000 after purchasing an additional 478,065 shares in the last quarter. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company's portfolio is centered on vonoprazan, a potassium-competitive acid blocker designed to suppress gastric acid production and provide an alternative to traditional proton pump inhibitors.

Phathom markets vonoprazan in the United States under the brand name Voquezna. The product is approved for the healing and maintenance of healing of erosive esophagitis, relief of associated heartburn, and treatment of heartburn related to non-erosive gastroesophageal reflux disease.

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