Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $20.00 Consensus Target Price from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $21.00.

A number of brokerages have commented on PHAT. Raymond James Financial initiated coverage on shares of Phathom Pharmaceuticals in a research note on Thursday. They issued a “strong-buy” rating and a $28.00 price target for the company. Guggenheim reaffirmed a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, October 30th. Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. HC Wainwright boosted their price target on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in PHAT. Jacobs Levy Equity Management Inc. acquired a new position in Phathom Pharmaceuticals in the 1st quarter valued at about $3,738,000. Russell Investments Group Ltd. acquired a new stake in Phathom Pharmaceuticals during the first quarter worth approximately $262,000. AlphaQuest LLC lifted its position in Phathom Pharmaceuticals by 2,127.2% during the second quarter. AlphaQuest LLC now owns 32,206 shares of the company’s stock worth $309,000 after acquiring an additional 30,760 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Phathom Pharmaceuticals during the second quarter worth approximately $90,000. Finally, US Bancorp DE grew its position in shares of Phathom Pharmaceuticals by 248.1% in the first quarter. US Bancorp DE now owns 23,763 shares of the company’s stock valued at $149,000 after purchasing an additional 16,937 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Down 0.1%

PHAT stock opened at $14.56 on Wednesday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -3.81 and a beta of 0.43. Phathom Pharmaceuticals has a twelve month low of $2.21 and a twelve month high of $16.45. The business has a 50 day moving average price of $13.85 and a two-hundred day moving average price of $11.20.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The company had revenue of $49.50 million for the quarter, compared to the consensus estimate of $47.03 million. On average, equities research analysts anticipate that Phathom Pharmaceuticals will post -4.78 EPS for the current fiscal year.

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.