Brokerages Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) PT at $21.00

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have received an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $21.00.

Several analysts have issued reports on the company. Barclays assumed coverage on Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price on the stock. Raymond James Financial began coverage on Phathom Pharmaceuticals in a research note on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 price objective for the company. HC Wainwright raised their price objective on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Guggenheim reissued a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of PHAT. JPMorgan Chase & Co. lifted its position in Phathom Pharmaceuticals by 0.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,123 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Phathom Pharmaceuticals by 39.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock worth $41,000 after purchasing an additional 1,216 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Phathom Pharmaceuticals by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock worth $152,000 after purchasing an additional 1,364 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Phathom Pharmaceuticals by 442.6% during the third quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after purchasing an additional 2,058 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in Phathom Pharmaceuticals by 58.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after buying an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

NASDAQ PHAT opened at $15.02 on Friday. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $18.31. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.93 and a beta of 0.48. The company’s 50-day simple moving average is $15.33 and its two-hundred day simple moving average is $12.45.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.15. The business had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. Equities analysts expect that Phathom Pharmaceuticals will post -4.78 earnings per share for the current fiscal year.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.