Phathom Pharmaceuticals (NASDAQ:PHAT) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report released on Monday,Benzinga reports. The brokerage currently has a $28.00 target price on the stock.

Several other research analysts have also weighed in on PHAT. Guggenheim restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of Phathom Pharmaceuticals from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $21.83.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $3.90 on Monday. Phathom Pharmaceuticals has a one year low of $3.81 and a one year high of $19.71. The firm has a market capitalization of $271.58 million, a P/E ratio of -0.69 and a beta of 0.35. The company’s fifty day moving average is $5.27 and its two-hundred day moving average is $8.46.

Institutional Trading of Phathom Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Kera Capital Partners Inc. boosted its stake in shares of Phathom Pharmaceuticals by 11.2% during the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after purchasing an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Phathom Pharmaceuticals by 18.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company’s stock valued at $180,000 after acquiring an additional 3,408 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after purchasing an additional 3,804 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Phathom Pharmaceuticals by 797.2% during the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Phathom Pharmaceuticals by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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.