Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Cut to $10.00 by Analysts at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price reduced by The Goldman Sachs Group from $12.00 to $10.00 in a research note released on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also commented on PHAT. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday, April 9th. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.83.

Phathom Pharmaceuticals Trading Down 4.5 %

Shares of PHAT opened at $4.03 on Thursday. The firm has a market cap of $280.64 million, a P/E ratio of -0.71 and a beta of 0.35. Phathom Pharmaceuticals has a 12 month low of $3.81 and a 12 month high of $19.71. The stock’s 50 day moving average is $5.33 and its two-hundred day moving average is $8.76.

Insider Activity

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction 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 transaction, the insider now owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,256 shares of company stock worth $238,014 over the last ninety days. Corporate insiders own 24.10% of the company’s stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after buying an additional 4,050 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Phathom Pharmaceuticals during the fourth quarter worth $74,000. Teacher Retirement System of Texas purchased a new stake in Phathom Pharmaceuticals in the fourth quarter valued at $90,000. Rafferty Asset Management LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $90,000. Finally, Versor Investments LP purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth $101,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.