Phathom Pharmaceuticals (NASDAQ:PHAT) Raised to "Hold" at Wall Street Zen

Key Points

• Phathom Pharmaceuticals was upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, while Weiss Ratings reaffirmed a "sell (d-)" rating.
• The company has a consensus rating of "Moderate Buy" with an average target price of $17.50 according to MarketBeat.com.
• Institutional investors own 99.01% of Phathom Pharmaceuticals' stock, with significant recent increases in positions from multiple investment firms.

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.50.

Phathom Pharmaceuticals Stock Performance

PHAT stock opened at $12.96 on Friday. The firm has a fifty day moving average price of $11.70 and a 200 day moving average price of $8.31. The firm has a market cap of $919.38 million, a PE ratio of -2.74 and a beta of 0.43. Phathom Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $19.50.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Frazier Life Sciences Management L.P. lifted its position in shares of Phathom Pharmaceuticals by 23.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company's stock worth $119,554,000 after purchasing an additional 2,357,210 shares during the last quarter. Invesco Ltd. lifted its position in shares of Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company's stock worth $39,703,000 after purchasing an additional 489,260 shares during the last quarter. 683 Capital Management LLC lifted its position in shares of Phathom Pharmaceuticals by 45.7% during the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company's stock worth $20,187,000 after purchasing an additional 660,000 shares during the last quarter. Propel Bio Management LLC lifted its position 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 purchasing an additional 145,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Phathom Pharmaceuticals by 5.3% during the second quarter. Geode Capital Management LLC now owns 1,069,927 shares of the company's stock worth $10,263,000 after purchasing an additional 53,504 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.

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