Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded at Barclays

Barclays upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) from an equal weight rating to an overweight rating in a research report released on Friday morning, Marketbeat.com reports. They currently have $18.00 target price on the stock, up from their previous target price of $16.00.

Several other research analysts have also recently issued reports on the stock. Raymond James Financial initiated coverage on shares of Phathom Pharmaceuticals in a report on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Thursday, January 22nd. Stifel Nicolaus set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Guggenheim upped their price objective on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock opened at $10.58 on Friday. The business has a 50-day moving average of $12.08 and a 200 day moving average of $13.39. Phathom Pharmaceuticals has a 1-year low of $2.21 and a 1-year high of $18.31. The stock has a market capitalization of $833.70 million, a PE ratio of -3.46 and a beta of 0.51.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $57.58 million during the quarter, compared to analysts’ expectations of $57.44 million. Analysts anticipate that Phathom Pharmaceuticals will post -4.78 EPS for the current year.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $258,000. Invesco Ltd. raised its holdings in Phathom Pharmaceuticals by 1.4% in the 4th quarter. Invesco Ltd. now owns 3,920,446 shares of the company’s stock worth $65,040,000 after purchasing an additional 55,475 shares in the last quarter. VARCOV Co. purchased a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth about $1,439,000. Virtus Investment Advisers LLC boosted its stake in shares of Phathom Pharmaceuticals by 5.9% during the 4th quarter. Virtus Investment Advisers LLC now owns 46,937 shares of the company’s stock valued at $779,000 after purchasing an additional 2,631 shares in the last quarter. Finally, SummitTX Capital L.P. boosted its stake in shares of Phathom Pharmaceuticals by 34.2% during the 4th quarter. SummitTX Capital L.P. now owns 517,820 shares of the company’s stock valued at $8,591,000 after purchasing an additional 131,852 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

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.