Phathom Pharmaceuticals (NASDAQ:PHAT) Given Buy Rating at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Monday,Benzinga reports. They presently have a $28.00 price target on the stock.

Other analysts have also recently issued reports about the company. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $21.83.

Phathom Pharmaceuticals Stock Performance

NASDAQ PHAT traded down $0.01 during trading hours on Monday, hitting $4.11. The company had a trading volume of 874,202 shares, compared to its average volume of 1,023,451. The business has a 50 day moving average of $5.14 and a 200-day moving average of $8.23. Phathom Pharmaceuticals has a 1-year low of $3.81 and a 1-year high of $19.71. The company has a market cap of $286.21 million, a PE ratio of -0.72 and a beta of 0.35.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC raised its stake in Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after purchasing an additional 1,196,118 shares during the last quarter. State Street Corp grew its holdings in shares of Phathom Pharmaceuticals by 17.5% during the third quarter. State Street Corp now owns 922,788 shares of the company's stock worth $16,684,000 after buying an additional 137,539 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $3,701,000. Barclays PLC lifted its stake in shares of Phathom Pharmaceuticals by 366.0% during the third quarter. Barclays PLC now owns 57,807 shares of the company's stock valued at $1,044,000 after buying an additional 45,402 shares during the period. Finally, Rhumbline Advisers boosted its position in Phathom Pharmaceuticals by 10.0% during the fourth quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock worth $454,000 after acquiring an additional 5,110 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.