Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Average Recommendation of "Buy" from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has received an average rating of "Buy" from the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.50.

Several equities research analysts have recently weighed in on PHAT shares. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. The Goldman Sachs Group cut their price objective on 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 reduced their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. Finally, Craig Hallum raised 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.

Phathom Pharmaceuticals Trading Down 5.3%

Shares of NASDAQ:PHAT opened at $9.18 on Friday. The firm has a market cap of $640.86 million, a PE ratio of -1.75 and a beta of 0.45. The company has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $6.09. Phathom Pharmaceuticals has a 12-month low of $2.21 and a 12-month high of $19.71.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock worth $29,000 after acquiring an additional 4,050 shares during the period. CWM LLC grew its position in Phathom Pharmaceuticals by 20,997.1% in the 1st quarter. CWM LLC now owns 7,384 shares of the company's stock worth $46,000 after purchasing an additional 7,349 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $74,000. Teacher Retirement System of Texas bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. 99.01% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.