Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Rating of “Buy” by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $17.60.

PHAT has been the subject of a number of recent research reports. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. The Goldman Sachs Group decreased their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday. Guggenheim cut their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday. HC Wainwright lowered their target price on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st.

Phathom Pharmaceuticals Stock Down 17.9 %

Shares of PHAT stock opened at $2.76 on Tuesday. Phathom Pharmaceuticals has a 12 month low of $2.71 and a 12 month high of $19.71. The company’s fifty day simple moving average is $4.96 and its 200-day simple moving average is $7.76. The firm has a market cap of $192.23 million, a PE ratio of -0.49 and a beta of 0.35.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. CWM LLC lifted its position in Phathom Pharmaceuticals by 20,997.1% during the first quarter. CWM LLC now owns 7,384 shares of the company’s stock worth $46,000 after acquiring an additional 7,349 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Phathom Pharmaceuticals by 11.5% in the 1st quarter. Bank of New York Mellon Corp now owns 114,535 shares of the company’s stock valued at $718,000 after purchasing an additional 11,787 shares during the period. GAMMA Investing LLC grew its holdings in Phathom Pharmaceuticals by 797.2% in the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock valued at $29,000 after buying an additional 4,050 shares in the last quarter. Kera Capital Partners Inc. increased its position in 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 buying an additional 3,000 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Phathom Pharmaceuticals by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after buying an additional 19,778 shares in the last quarter. 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.