Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Recommendation of “Moderate Buy” by Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $22.8571.

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Needham & Company LLC reduced their target price on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Guggenheim decreased their target price on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. Finally, Barclays reduced their price objective on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 14th.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT stock opened at $8.87 on Monday. Phathom Pharmaceuticals has a 52 week low of $8.21 and a 52 week high of $18.31. The company’s 50 day moving average price is $10.38 and its two-hundred day moving average price is $11.14. The company has a market capitalization of $717.58 million, a P/E ratio of -6.93 and a beta of 0.51.

Institutional Trading of Phathom Pharmaceuticals

Large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Phathom Pharmaceuticals by 125.8% during the third quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after purchasing an additional 2,830,954 shares during the last quarter. BlackRock Inc. bought a new position in shares of Phathom Pharmaceuticals in the second quarter worth about $49,098,000. Invesco Ltd. boosted its stake in shares of Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after purchasing an additional 489,260 shares in the last quarter. Carlyle Group Inc. bought a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter valued at approximately $37,940,000. Finally, Vanguard Group Inc. increased its position in Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after purchasing an additional 428,261 shares in the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

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.