Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Recommendation of “Moderate Buy” by Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $24.50.

A number of research firms have weighed in on PHAT. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th. Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $18.00 in a research note on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st.

Phathom Pharmaceuticals Price Performance

PHAT opened at $10.72 on Friday. The company’s 50 day simple moving average is $11.25 and its two-hundred day simple moving average is $12.58. Phathom Pharmaceuticals has a 1-year low of $7.61 and a 1-year high of $18.31. The firm has a market capitalization of $855.03 million, a price-to-earnings ratio of -5.06 and a beta of 0.50.

Institutional Trading of Phathom Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Phathom Pharmaceuticals by 125.8% during the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock valued at $59,809,000 after buying an additional 2,830,954 shares during the period. Invesco Ltd. raised its position in shares of Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after buying an additional 489,260 shares during the period. Vanguard Group Inc. raised its position in shares of Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock valued at $37,847,000 after buying an additional 428,261 shares during the period. Wasatch Advisors LP raised its position in shares of Phathom Pharmaceuticals by 5.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,537,218 shares of the company’s stock valued at $18,093,000 after buying an additional 75,323 shares during the period. Finally, Catalys Pacific LLC raised its position in shares of Phathom Pharmaceuticals by 22.4% during the 4th quarter. Catalys Pacific LLC now owns 1,429,014 shares of the company’s stock valued at $23,707,000 after buying an additional 261,900 shares during the period. Hedge funds and other 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.