Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shot up 6.4% on Wednesday . The stock traded as high as $9.70 and last traded at $9.54. 1,813,653 shares traded hands during trading, an increase of 25% from the average session volume of 1,447,935 shares. The stock had previously closed at $8.97.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PHAT. 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 reaffirmed a "buy" rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday. Craig Hallum upped their target price on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a "buy" rating in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. Finally, The Goldman Sachs Group cut their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $17.50.
Get Our Latest Stock Analysis on PHAT
Phathom Pharmaceuticals Stock Up 0.8%
The stock has a market cap of $631.12 million, a P/E ratio of -1.59 and a beta of 0.08. The business has a 50 day moving average price of $4.37 and a 200 day moving average price of $5.91.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of PHAT. Wasatch Advisors LP grew its stake in 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. Jacobs Levy Equity Management Inc. bought a new position in Phathom Pharmaceuticals in the first quarter worth approximately $3,738,000. Tang Capital Management LLC bought a new position in Phathom Pharmaceuticals in the fourth quarter worth approximately $4,060,000. Raymond James Financial Inc. bought a new position in Phathom Pharmaceuticals in the fourth quarter worth approximately $3,701,000. Finally, 683 Capital Management LLC grew its stake in Phathom Pharmaceuticals by 41.0% in the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company's stock worth $9,060,000 after purchasing an additional 420,000 shares in the last quarter. Institutional investors own 99.01% of the company's stock.
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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