HC Wainwright Reaffirms "Buy" Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

HC Wainwright restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

A number of other brokerages have also issued reports on PHAT. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim cut their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. Finally, The Goldman Sachs Group dropped their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT traded up $0.99 on Monday, reaching $10.03. The stock had a trading volume of 3,584,464 shares, compared to its average volume of 1,470,685. Phathom Pharmaceuticals has a 1-year low of $2.21 and a 1-year high of $19.71. The company has a market cap of $700.23 million, a P/E ratio of -1.76 and a beta of 0.08. The firm has a fifty day moving average of $4.37 and a two-hundred day moving average of $5.91.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PHAT. Vanguard Group Inc. grew its holdings in shares of Phathom Pharmaceuticals by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock valued at $22,570,000 after purchasing an additional 83,238 shares during the last quarter. Wasatch Advisors LP boosted its position in Phathom Pharmaceuticals by 531.3% in the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock valued at $12,658,000 after buying an additional 1,311,986 shares in the last quarter. 683 Capital Management LLC boosted its position in Phathom Pharmaceuticals by 41.0% in the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock valued at $9,060,000 after buying an additional 420,000 shares in the last quarter. Catalys Pacific LLC grew its stake in shares of Phathom Pharmaceuticals by 4.0% during the fourth quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company's stock worth $9,477,000 after buying an additional 44,542 shares during the last quarter. Finally, Propel Bio Management LLC increased its holdings in shares of Phathom Pharmaceuticals by 14.6% during the first quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company's stock worth $7,116,000 after buying an additional 145,000 shares in the last quarter. Institutional investors and hedge funds 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.