Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.00.

Several brokerages recently weighed in on PHAT. Guggenheim lifted their price target on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a research note on Thursday, February 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Tuesday, April 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, January 14th. Finally, Barclays upgraded Phathom Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $16.00 to $18.00 in a research note on Friday, March 27th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Millennium Management LLC increased its stake in Phathom Pharmaceuticals by 125.8% during the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company's stock worth $59,809,000 after buying an additional 2,830,954 shares in the last quarter. Invesco Ltd. increased its stake in Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company's stock worth $39,703,000 after buying an additional 489,260 shares in the last quarter. Vanguard Group Inc. increased its stake in Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company's stock worth $37,847,000 after buying an additional 428,261 shares in the last quarter. Wasatch Advisors LP increased its stake in Phathom Pharmaceuticals by 5.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,537,218 shares of the company's stock worth $18,093,000 after buying an additional 75,323 shares in the last quarter. Finally, Catalys Pacific LLC increased its stake in Phathom Pharmaceuticals by 22.4% during the 4th quarter. Catalys Pacific LLC now owns 1,429,014 shares of the company's stock worth $23,707,000 after buying an additional 261,900 shares in the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Stock Down 0.6%

Shares of Phathom Pharmaceuticals stock opened at $12.16 on Friday. Phathom Pharmaceuticals has a twelve month low of $2.33 and a twelve month high of $18.31. The business has a 50-day moving average price of $11.58 and a 200 day moving average price of $13.42. The firm has a market cap of $969.88 million, a PE ratio of -5.74 and a beta of 0.57.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The business had revenue of $57.58 million during the quarter, compared to analysts' expectations of $57.44 million. On average, sell-side analysts expect that Phathom Pharmaceuticals will post -0.25 EPS for the current year.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company's core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom's research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company's lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.

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