Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Raised to $17.00

Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) had its price objective upped by Craig Hallum from $12.00 to $17.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

PHAT has been the topic of a number of other reports. The Goldman Sachs Group reduced their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Guggenheim reduced their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Monday. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th. Finally, Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT traded up $0.99 during midday trading on Monday, reaching $10.03. 3,584,464 shares of the stock traded hands, compared to its average volume of 1,475,014. The company's 50 day moving average is $4.37 and its 200 day moving average is $5.91. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $19.71. The stock has a market capitalization of $700.23 million, a PE ratio of -1.76 and a beta of 0.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PHAT. Rhumbline Advisers lifted its stake in shares of Phathom Pharmaceuticals by 10.0% during the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company's stock worth $454,000 after acquiring an additional 5,110 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after purchasing an additional 4,557 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at $171,000. Versor Investments LP bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $101,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Phathom Pharmaceuticals by 20.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,038 shares of the company's stock worth $2,867,000 after purchasing an additional 60,178 shares during the last quarter. Institutional investors own 99.01% of the company's stock.

Phathom Pharmaceuticals Company Profile

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.