Phathom Pharmaceuticals' (PHAT) Buy Rating Reiterated at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 192.40% from the stock's previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group decreased their target price on Phathom Pharmaceuticals from $10.00 to $5.00 and set a "neutral" 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. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reduced their price objective on Phathom Pharmaceuticals from $28.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, 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 note on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of "Buy" and a consensus price target of $17.60.

Phathom Pharmaceuticals Price Performance

PHAT stock traded up $4.89 during trading hours on Friday, reaching $9.58. The stock had a trading volume of 46,447,966 shares, compared to its average volume of 1,375,513. Phathom Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $19.71. The stock has a market capitalization of $668.54 million, a PE ratio of -1.70 and a beta of 0.15. The stock has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $5.92.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Large investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its position in Phathom Pharmaceuticals by 531.3% in the 4th 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. purchased a new position in Phathom Pharmaceuticals during the first quarter worth approximately $3,738,000. Tang Capital Management LLC purchased a new position in Phathom Pharmaceuticals during the fourth quarter worth about $4,060,000. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $3,701,000. Finally, 683 Capital Management LLC grew its stake in shares of 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 buying an additional 420,000 shares during the period. Hedge funds and other institutional investors own 99.01% of the company's stock.

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.

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