Analysts Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Target Price at $22.50

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.50.

Several equities research analysts have recently commented on PHAT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Thursday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, January 14th. Stifel Nicolaus set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, February 26th. Guggenheim increased their price target on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Barclays upgraded shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $16.00 to $18.00 in a research note on Friday, March 27th.

Phathom Pharmaceuticals Trading Down 1.4%

NASDAQ:PHAT opened at $12.61 on Tuesday. The company has a 50-day moving average price of $11.56 and a 200-day moving average price of $13.39. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $18.31. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -4.12 and a beta of 0.61.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. The company had revenue of $57.58 million during the quarter, compared to analysts’ expectations of $57.44 million. Equities analysts forecast that Phathom Pharmaceuticals will post -4.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth about $258,000. Invesco Ltd. increased its stake in shares of Phathom Pharmaceuticals by 1.4% in the 4th quarter. Invesco Ltd. now owns 3,920,446 shares of the company’s stock worth $65,040,000 after acquiring an additional 55,475 shares in the last quarter. VARCOV Co. bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth about $1,439,000. Virtus Investment Advisers LLC increased its stake in shares of Phathom Pharmaceuticals by 5.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 46,937 shares of the company’s stock worth $779,000 after acquiring an additional 2,631 shares in the last quarter. Finally, SummitTX Capital L.P. increased its stake in shares of Phathom Pharmaceuticals by 34.2% in the 4th quarter. SummitTX Capital L.P. now owns 517,820 shares of the company’s stock worth $8,591,000 after acquiring an additional 131,852 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Company Profile

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.