Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Climb 14.7% – Still a Buy?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) rose 14.7% during trading on Wednesday. The stock traded as high as $6.21 and last traded at $6.25. 1,052,587 shares traded hands during trading, a decline of 19% from the average daily volume of 1,307,454 shares. The stock had previously closed at $5.45.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, October 30th. Guggenheim cut their price target 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 research report on Thursday, October 15th. Craig Hallum reiterated a “buy” rating and issued a $15.00 price objective on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 21st. Finally, Barclays dropped their target price on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.11.

Phathom Pharmaceuticals Stock Performance

The company has a 50 day moving average price of $7.15 and a 200 day moving average price of $10.15. The company has a market capitalization of $507.25 million, a price-to-earnings ratio of -6.07 and a beta of 0.69.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Phathom Pharmaceuticals during the second quarter valued at approximately $49,098,000. Carlyle Group Inc. bought a new position in shares of Phathom Pharmaceuticals in the 2nd quarter worth $37,940,000. Perceptive Advisors LLC bought a new position in shares of Phathom Pharmaceuticals in the 1st quarter worth $10,277,000. Hsbc Holdings PLC acquired a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at $7,702,000. Finally, EcoR1 Capital LLC acquired a new stake in Phathom Pharmaceuticals in the 1st quarter valued at $6,944,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. Founded in 2018, the company is based in Florham Park, New Jersey, and concentrates its commercial activities on the U.S. market. Its primary product is Voquezna (vonoprazan), an acid blocker used to treat certain conditions involving gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD. Vonoprazan is also used with antibiotics to treat Helicobacter pylori infection.