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.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on PHAT shares. Craig Hallum increased their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, June 9th. The Goldman Sachs Group lowered their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Guggenheim decreased their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, June 9th. 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $17.50.
Check Out Our Latest Stock Analysis on PHAT
Phathom Pharmaceuticals Stock Performance
The company has a market cap of $742.82 million, a P/E ratio of -1.87 and a beta of 0.08. The company has a fifty day moving average price of $4.60 and a two-hundred day moving average price of $5.89.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Several hedge funds have recently bought and sold shares of PHAT. Wasatch Advisors LP lifted its stake in Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock valued at $12,658,000 after purchasing an additional 1,311,986 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Phathom Pharmaceuticals in the 1st quarter valued at about $3,738,000. Tang Capital Management LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $4,060,000. Raymond James Financial Inc. acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at about $3,701,000. Finally, 683 Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 41.0% in the 1st quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock valued at $9,060,000 after purchasing an additional 420,000 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.
Phathom Pharmaceuticals Company Profile
(
Get Free Report)
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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