Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $20.7143.

Several research analysts have commented on PHAT shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, January 14th. Barclays started coverage on shares of Phathom Pharmaceuticals in a research report on Monday, December 8th. They issued an “equal weight” rating and a $16.00 price target for the company. HC Wainwright lifted their price objective on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Raymond James Financial began coverage on Phathom Pharmaceuticals in a report on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 target price for the company. Finally, Guggenheim reaffirmed a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Phathom Pharmaceuticals by 125.8% in 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 period. Frazier Life Sciences Management L.P. increased its position in shares of Phathom Pharmaceuticals by 23.3% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock valued at $119,554,000 after buying an additional 2,357,210 shares in the last quarter. 683 Capital Management LLC increased its position in shares of Phathom Pharmaceuticals by 45.7% in the 2nd quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock valued at $20,187,000 after buying an additional 660,000 shares in the last quarter. Moore Capital Management LP acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter worth $5,754,000. Finally, Invesco Ltd. lifted its holdings in Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after acquiring an additional 489,260 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Trading Down 4.7%

NASDAQ:PHAT opened at $11.42 on Monday. Phathom Pharmaceuticals has a twelve month low of $2.21 and a twelve month high of $18.31. The company has a 50-day moving average of $14.66 and a 200-day moving average of $13.44. The firm has a market cap of $815.62 million, a price-to-earnings ratio of -2.99 and a beta of 0.51.

About Phathom Pharmaceuticals

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.