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

Key Points

• Phathom Pharmaceuticals received a “Moderate Buy” consensus rating from eight analysts: six buys, one strong buy and one sell. The average 12-month price target is $22.86, compared with the stock’s recent price of $9.58.
• Recent analyst targets range from $20 to $26, although Needham and Guggenheim both lowered their targets to $22 while maintaining buy ratings. Weiss Ratings separately reaffirmed a sell rating.
• Institutional investors own 99.01% of PHAT, with several firms adding or establishing positions. The stock remains near its 12-month low, trading between $8.21 and $18.31 over the past year.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.8571.

Several equities analysts recently commented on PHAT shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Needham & Company LLC cut their price target on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, July 30th. HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Craig Hallum restated a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Finally, Guggenheim decreased their target price on Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 31st.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PHAT. Hussman Strategic Advisors Inc. bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter valued at about $2,439,000. Renaissance Technologies LLC purchased a new stake in Phathom Pharmaceuticals in the first quarter worth approximately $3,397,000. SummitTX Capital L.P. boosted its stake in Phathom Pharmaceuticals by 92.3% in the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company's stock worth $11,064,000 after buying an additional 478,065 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Phathom Pharmaceuticals by 124.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 327,278 shares of the company's stock valued at $3,551,000 after acquiring an additional 181,346 shares during the last quarter. Finally, Next Century Growth Investors LLC purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $6,533,000. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $9.58 on Monday. The business's 50-day moving average price is $10.48 and its 200-day moving average price is $11.29. Phathom Pharmaceuticals has a twelve month low of $8.21 and a twelve month high of $18.31. The stock has a market cap of $775.02 million, a PE ratio of -7.48 and a beta of 0.51.

About Phathom Pharmaceuticals

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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