Brokerages Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) PT at $17.50

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has earned an average rating of "Buy" from the six analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.50.

A number of equities analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Guggenheim reduced their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reduced their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded down $0.48 during midday trading on Wednesday, reaching $10.42. 1,830,232 shares of the stock were exchanged, compared to its average volume of 1,513,268. The business has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $5.97. The company has a market capitalization of $727.42 million, a price-to-earnings ratio of -1.99 and a beta of 0.08. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $19.71.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in Phathom Pharmaceuticals by 60.4% in the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock worth $1,352,000 after purchasing an additional 62,726 shares during the period. Wells Fargo & Company MN boosted its stake in Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock worth $207,000 after purchasing an additional 7,462 shares during the period. ProShare Advisors LLC boosted its stake in Phathom Pharmaceuticals by 36.3% in the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after purchasing an additional 3,804 shares during the period. Deutsche Bank AG boosted its stake in Phathom Pharmaceuticals by 49.4% in the 4th quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock worth $245,000 after purchasing an additional 9,986 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company's stock worth $957,000 after purchasing an additional 19,778 shares during the period. 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.