Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 12-Month Low - What's Next?

Key Points

• Phathom Pharmaceuticals fell to a new 52-week low of $7.31, with the stock last trading near $7.27 and down from its prior close of $7.76.
• Analysts have lowered several price targets, including Barclays to $14, while the overall consensus remains “Moderate Buy” with a target price of $21.25.
• Institutional investors and hedge funds own approximately 99.01% of the company, while Phathom’s primary product, Voquezna, is approved in the U.S. for combination treatment of H. pylori infections.

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $7.31 and last traded at $7.2670, with a volume of 151397 shares trading hands. The stock had previously closed at $7.76.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Barclays decreased their target price on Phathom Pharmaceuticals from $18.00 to $14.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Needham & Company LLC dropped their price objective on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Guggenheim reduced their target price on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, Leerink Partners started coverage on shares of Phathom Pharmaceuticals in a research report on Wednesday, September 9th. They issued a "market perform" rating and a $10.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six 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, Phathom Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $21.25.

Phathom Pharmaceuticals Price Performance

The company has a market capitalization of $575.44 million, a price-to-earnings ratio of -5.55 and a beta of 0.51. The stock has a 50 day simple moving average of $9.32 and a two-hundred day simple moving average of $10.57.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PHAT. Bank of New York Mellon Corp increased its position in Phathom Pharmaceuticals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company's stock worth $1,378,000 after buying an additional 1,051 shares during the period. Kera Capital Partners Inc. lifted its stake in shares of Phathom Pharmaceuticals by 10.6% in the first quarter. Kera Capital Partners Inc. now owns 26,826 shares of the company's stock valued at $298,000 after buying an additional 2,571 shares during the period. Summit Securities Group LLC bought a new position in Phathom Pharmaceuticals during the first quarter valued at about $34,000. State of Wyoming acquired a new position in Phathom Pharmaceuticals in the 1st quarter valued at approximately $55,000. Finally, Swiss National Bank raised its holdings in Phathom Pharmaceuticals by 10.2% in the 1st quarter. Swiss National Bank now owns 92,600 shares of the company's stock valued at $1,029,000 after acquiring an additional 8,600 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company's stock.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company's primary product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress gastric acid production through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for use in combination regimens to eradicate Helicobacter pylori (H. pylori) infection in adults.

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