Brokerages Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Target Price at $17.60

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $17.60.

Several equities analysts have weighed in on the company. HC Wainwright dropped their price objective on Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Guggenheim dropped their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, April 21st. Finally, The Goldman Sachs Group decreased their price target on Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd.

Phathom Pharmaceuticals Trading Down 1.0%

NASDAQ:PHAT opened at $4.08 on Friday. The stock has a market cap of $284.84 million, a P/E ratio of -0.72 and a beta of 0.15. The stock has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $6.14. Phathom Pharmaceuticals has a 1-year low of $2.21 and a 1-year high of $19.71.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC grew its position in shares of Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after buying an additional 1,196,118 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Phathom Pharmaceuticals by 10.0% in the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock valued at $454,000 after purchasing an additional 5,110 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Phathom Pharmaceuticals by 4.6% in the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $171,000. Finally, Versor Investments LP acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at about $101,000. 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.