Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $21.83 Average PT from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has been assigned an average recommendation of "Buy" from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.83.

A number of analysts have recently issued reports on PHAT shares. Guggenheim restated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. The Goldman Sachs Group cut their price target on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in PHAT. Wasatch Advisors LP boosted its position 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. Jennison Associates LLC boosted its position 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. Tang Capital Management LLC purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $4,060,000. Raymond James Financial Inc. purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $3,701,000. Finally, Trexquant Investment LP purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at approximately $3,075,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Trading Down 21.7 %

PHAT stock traded down $0.93 during mid-day trading on Tuesday, reaching $3.36. The company's stock had a trading volume of 5,521,584 shares, compared to its average volume of 1,049,909. The stock has a market cap of $234.02 million, a PE ratio of -0.59 and a beta of 0.35. Phathom Pharmaceuticals has a fifty-two week low of $3.08 and a fifty-two week high of $19.71. The company's 50 day moving average is $5.06 and its two-hundred day moving average is $7.99.

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.