Phathom Pharmaceuticals (NASDAQ:PHAT) Given "Buy" Rating at HC Wainwright

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $20.00 target price on the stock. HC Wainwright's target price points to a potential upside of 124.22% from the stock's current price.

Other equities analysts also recently issued reports about the company. Guggenheim cut their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. The Goldman Sachs Group dropped their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and an average target price of $17.60.

Phathom Pharmaceuticals Stock Up 90.2%

PHAT stock opened at $8.92 on Monday. The stock has a market capitalization of $622.74 million, a price-to-earnings ratio of -1.57 and a beta of 0.08. The stock's fifty day simple moving average is $4.14 and its 200-day simple moving average is $5.87. Phathom Pharmaceuticals has a 52-week low of $2.21 and a 52-week high of $19.71.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of PHAT. Bank of America Corp DE lifted its position in shares of Phathom Pharmaceuticals by 60.4% in the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock worth $1,352,000 after buying an additional 62,726 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Phathom Pharmaceuticals by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after purchasing an additional 7,462 shares in the last quarter. ProShare Advisors LLC grew its holdings in Phathom Pharmaceuticals by 36.3% during the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after acquiring an additional 3,804 shares during the period. Deutsche Bank AG lifted its stake in Phathom Pharmaceuticals by 49.4% during the fourth quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after purchasing an additional 9,986 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth $3,701,000. 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.

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