Phathom Pharmaceuticals (NASDAQ:PHAT) Given New $17.00 Price Target at Craig Hallum

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) had its price target upped by analysts at Craig Hallum from $12.00 to $17.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Craig Hallum's target price would indicate a potential upside of 111.05% from the company's current price.

A number of other equities analysts have also weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday. Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday. Guggenheim reduced their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. One 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Down 9.7%

Shares of PHAT stock traded down $0.87 during mid-day trading on Monday, reaching $8.06. 4,601,930 shares of the company's stock traded hands, compared to its average volume of 1,418,157. The company's 50-day moving average price is $4.14 and its 200-day moving average price is $5.87. The company has a market cap of $562.35 million, a P/E ratio of -1.43 and a beta of 0.08. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $19.71.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock worth $29,000 after purchasing an additional 4,050 shares during the last quarter. CWM LLC boosted its holdings in Phathom Pharmaceuticals by 20,997.1% in the first quarter. CWM LLC now owns 7,384 shares of the company's stock worth $46,000 after acquiring an additional 7,349 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth about $74,000. Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals during the 4th quarter worth about $90,000. Finally, Rafferty Asset Management LLC purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at about $90,000. 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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