Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Gap Up - Still a Buy?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $9.04, but opened at $9.23. Phathom Pharmaceuticals shares last traded at $9.35, with a volume of 153,602 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Guggenheim lowered their price objective 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. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. 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. Craig Hallum boosted their target price on shares of Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a report on Monday. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Monday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.50.

Phathom Pharmaceuticals Stock Performance

The stock's fifty day simple moving average is $4.47 and its two-hundred day simple moving average is $5.92. The stock has a market capitalization of $700.23 million, a P/E ratio of -1.76 and a beta of 0.08.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of Phathom Pharmaceuticals by 60.4% in the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company's stock valued at $1,352,000 after purchasing an additional 62,726 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Phathom Pharmaceuticals by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company's stock valued at $207,000 after purchasing an additional 7,462 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Phathom Pharmaceuticals by 36.3% in the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock valued at $116,000 after purchasing an additional 3,804 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Phathom Pharmaceuticals by 49.4% in the 4th quarter. Deutsche Bank AG now owns 30,213 shares of the company's stock valued at $245,000 after purchasing an additional 9,986 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company's stock valued at $957,000 after purchasing an additional 19,778 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

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.