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

Key Points

• Phathom Pharmaceuticals has received a consensus rating of "Buy" from six brokerages, with an average 1-year price target of $17.50.
• Institutional investors and hedge funds own 99.01% of Phathom Pharmaceuticals stock, with notable increases in holdings from firms like Wells Fargo and Barclays.
• The company's stock has a 52-week range of $2.21 to $19.71, and it opened at $12.18 on Monday, reflecting significant volatility in its trading performance.

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

PHAT has been the topic of several analyst reports. Craig Hallum boosted 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. HC Wainwright restated a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th.

Phathom Pharmaceuticals Stock Down 3.1%

NASDAQ PHAT traded down $0.37 during trading hours on Monday, hitting $11.51. 722,357 shares of the company were exchanged, compared to its average volume of 1,732,238. The stock has a 50-day moving average price of $9.72 and a 200 day moving average price of $6.92. Phathom Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $19.71. The stock has a market cap of $816.64 million, a PE ratio of -2.43 and a beta of 0.44.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Phathom Pharmaceuticals by 58.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company's stock worth $55,000 after buying an additional 2,102 shares in the last quarter. Moore Capital Management LP bought a new position in Phathom Pharmaceuticals in the second quarter worth approximately $5,754,000. Frazier Life Sciences Management L.P. raised its stake in Phathom Pharmaceuticals by 23.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company's stock worth $119,554,000 after buying an additional 2,357,210 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company's stock worth $49,000 after buying an additional 2,122 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in Phathom Pharmaceuticals in the second quarter worth approximately $267,000. Institutional investors own 99.01% of the company's stock.

About Phathom Pharmaceuticals

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.