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

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $21.00.

PHAT has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. Raymond James Financial assumed coverage on Phathom Pharmaceuticals in a research note on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 target price on the stock. HC Wainwright raised their price target on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Craig Hallum restated a “buy” rating and set a $22.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, October 31st. Finally, Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several large investors have recently added to or reduced their stakes in PHAT. Frazier Life Sciences Management L.P. increased its position in shares of Phathom Pharmaceuticals by 23.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after acquiring an additional 2,357,210 shares during the period. Millennium Management LLC grew its stake 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 in the last quarter. Invesco Ltd. increased its holdings in Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after purchasing an additional 489,260 shares during the period. Vanguard Group Inc. increased its holdings in Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after purchasing an additional 428,261 shares during the period. Finally, 683 Capital Management LLC raised its position in Phathom Pharmaceuticals by 45.7% during the 2nd quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock valued at $20,187,000 after purchasing an additional 660,000 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Stock Down 2.7%

Shares of PHAT opened at $13.84 on Thursday. The business has a fifty day moving average of $15.39 and a 200 day moving average of $12.92. The company has a market cap of $988.45 million, a PE ratio of -3.62 and a beta of 0.48. Phathom Pharmaceuticals has a 52-week low of $2.21 and a 52-week high of $18.31.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.15. The firm had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. As a group, research analysts anticipate that Phathom Pharmaceuticals will post -4.78 earnings per share for the current fiscal year.

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.