Analysts Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Price Target at $17.50

Key Points

• Phathom Pharmaceuticals, Inc. has received an average analyst rating of "Buy" from six covering analysts, with a consensus one-year target price set at $17.50.
• Institutional investors own 99.01% of Phathom's stock, with significant recent increases in holdings by firms such as Vanguard Group and Wasatch Advisors.
• As of the latest trading, Phathom's stock is priced at $8.68 after experiencing a 3.6% increase, against a fifty-two week low of $2.21 and a high of $19.71.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $17.50.

PHAT has been the subject of several analyst reports. Craig Hallum upped their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group cut their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Guggenheim cut their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PHAT. Wasatch Advisors LP lifted its stake in Phathom Pharmaceuticals by 531.3% in the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after purchasing an additional 1,311,986 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Phathom Pharmaceuticals during the first quarter valued at approximately $3,738,000. Tang Capital Management LLC bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $4,060,000. Raymond James Financial Inc. bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $3,701,000. Finally, 683 Capital Management LLC raised its stake in shares of Phathom Pharmaceuticals by 41.0% during the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock valued at $9,060,000 after acquiring an additional 420,000 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ:PHAT traded up $0.34 during midday trading on Thursday, hitting $9.74. The company had a trading volume of 1,374,342 shares, compared to its average volume of 1,017,887. The company has a market cap of $679.95 million, a price-to-earnings ratio of -2.06 and a beta of 0.45. Phathom Pharmaceuticals has a 12-month low of $2.21 and a 12-month high of $19.71. The company has a fifty day moving average of $8.81 and a two-hundred day moving average of $6.28.

Phathom Pharmaceuticals Company Profile

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.