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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has been given an average recommendation of "Buy" by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $17.50.

A number of research firms have recently weighed in on PHAT. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. The Goldman Sachs Group lowered their price objective on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Guggenheim lowered their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Finally, Craig Hallum increased their price objective on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, June 9th.

Phathom Pharmaceuticals Stock Down 1.3%

NASDAQ:PHAT opened at $10.50 on Wednesday. Phathom Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $19.71. The stock has a market cap of $733.01 million, a PE ratio of -2.00 and a beta of 0.08. The firm's fifty day simple moving average is $4.85 and its 200-day simple moving average is $5.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHAT. Rhumbline Advisers lifted its holdings in Phathom Pharmaceuticals by 10.0% in the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock valued at $454,000 after purchasing an additional 5,110 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Phathom Pharmaceuticals by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock valued at $834,000 after purchasing an additional 4,557 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $171,000. Versor Investments LP purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $101,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Phathom Pharmaceuticals by 20.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 353,038 shares of the company's stock valued at $2,867,000 after purchasing an additional 60,178 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

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