Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Cut to $20.00 by Analysts at HC Wainwright

Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) had its price objective lowered by HC Wainwright from $28.00 to $20.00 in a research note published on Friday morning, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

PHAT has been the topic of several other reports. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday, April 21st. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Wednesday, April 2nd. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, The Goldman Sachs Group cut their price target on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $17.60.

Phathom Pharmaceuticals Stock Up 1.5 %

NASDAQ PHAT traded up $0.04 on Friday, hitting $2.44. 1,276,997 shares of the stock were exchanged, compared to its average volume of 1,079,706. Phathom Pharmaceuticals has a fifty-two week low of $2.38 and a fifty-two week high of $19.71. The company has a 50-day moving average price of $4.83 and a 200-day moving average price of $7.57. The company has a market cap of $169.59 million, a PE ratio of -0.43 and a beta of 0.15.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PHAT. Jennison Associates LLC lifted its holdings in shares of Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after purchasing an additional 1,196,118 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Phathom Pharmaceuticals by 3.1% in the fourth 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 lifted its position in shares of Phathom Pharmaceuticals by 531.3% in the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after purchasing an additional 1,311,986 shares in the last quarter. Catalys Pacific LLC boosted its holdings in 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 purchasing an additional 44,542 shares during the last quarter. Finally, 683 Capital Management LLC increased its stake in Phathom Pharmaceuticals by 1.5% in the 4th quarter. 683 Capital Management LLC now owns 1,025,000 shares of the company's stock valued at $8,323,000 after buying an additional 15,000 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.