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

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 rating of "Buy" from the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $17.50.

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

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Kera Capital Partners Inc. increased its position in Phathom Pharmaceuticals by 11.2% in the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company's stock valued at $187,000 after buying an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Phathom Pharmaceuticals by 18.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company's stock worth $180,000 after acquiring an additional 3,408 shares in the last quarter. ProShare Advisors LLC grew its stake in Phathom Pharmaceuticals by 36.3% in the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after acquiring an additional 3,804 shares during the period. GAMMA Investing LLC increased its holdings in shares of Phathom Pharmaceuticals by 797.2% during the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock valued at $29,000 after acquiring an additional 4,050 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Phathom Pharmaceuticals by 21.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,641 shares of the company's stock worth $209,000 after purchasing an additional 4,592 shares during the period. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT traded up $0.34 during midday trading on Thursday, hitting $9.74. 1,374,342 shares of the stock were exchanged, compared to its average volume of 1,017,887. The business's 50-day moving average price is $8.81 and its 200 day moving average price is $6.27. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $19.71. The stock has a market capitalization of $679.95 million, a price-to-earnings ratio of -2.06 and a beta of 0.45.

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.