Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Rating of "Buy" from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) have been assigned an average recommendation of "Buy" from the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $17.60.

PHAT has been the subject of several research reports. Guggenheim reduced their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. HC Wainwright cut their price objective on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in shares of Phathom Pharmaceuticals by 20.4% during the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock worth $57,348,000 after purchasing an additional 1,196,118 shares during the period. Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock worth $22,570,000 after purchasing an additional 83,238 shares during the period. Wasatch Advisors LP grew its stake in shares of Phathom Pharmaceuticals by 531.3% during the 4th 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 period. 683 Capital Management LLC grew its stake in shares of Phathom Pharmaceuticals by 41.0% during the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock worth $9,060,000 after purchasing an additional 420,000 shares during the period. Finally, Catalys Pacific LLC grew its stake in shares of Phathom Pharmaceuticals by 4.0% during the 4th quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock worth $9,477,000 after purchasing an additional 44,542 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Up 5.6%

PHAT stock traded up $0.23 on Friday, hitting $4.31. The company's stock had a trading volume of 280,660 shares, compared to its average volume of 1,403,323. The firm has a 50 day moving average of $4.29 and a two-hundred day moving average of $6.14. Phathom Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $19.71. The stock has a market cap of $300.90 million, a price-to-earnings ratio of -0.76 and a beta of 0.15.

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.