Guggenheim Reiterates “Buy” Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating restated by equities research analysts at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports.

Other research analysts have also recently issued reports about the stock. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. The Goldman Sachs Group reduced their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $22.17.

Phathom Pharmaceuticals Stock Up 17.0 %

Shares of NASDAQ PHAT traded up $0.87 during midday trading on Wednesday, hitting $5.99. The stock had a trading volume of 918,594 shares, compared to its average volume of 998,244. Phathom Pharmaceuticals has a 1-year low of $4.07 and a 1-year high of $19.71. The company has a market capitalization of $417.13 million, a price-to-earnings ratio of -1.05 and a beta of 0.63. The company has a fifty day moving average price of $5.80 and a 200 day moving average price of $9.90.

Insider Activity

In other news, insider Terrie Curran sold 19,109 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares in the company, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,578 shares of company stock worth $221,279 over the last ninety days. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently modified their holdings of PHAT. Intech Investment Management LLC bought a new stake in Phathom Pharmaceuticals in the third quarter valued at about $207,000. Charles Schwab Investment Management Inc. grew its position in shares of Phathom Pharmaceuticals by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 292,860 shares of the company’s stock worth $5,295,000 after acquiring an additional 6,990 shares in the last quarter. FMR LLC increased its holdings in shares of Phathom Pharmaceuticals by 49,000.7% in the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after acquiring an additional 1,301,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Phathom Pharmaceuticals by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,025 shares of the company’s stock valued at $1,772,000 after acquiring an additional 4,871 shares in the last quarter. Finally, Portolan Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 50.4% during the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after purchasing an additional 569,829 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.