Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $24.50 Average Target Price from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $24.50.

Several research firms have issued reports on PHAT. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $16.00 to $18.00 in a report on Friday, March 27th.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Phathom Pharmaceuticals during the 4th quarter valued at $27,000. Raymond James Financial Inc. acquired a new position in shares of Phathom Pharmaceuticals in the second quarter valued at $30,000. Summit Securities Group LLC bought a new position in shares of Phathom Pharmaceuticals in the first quarter valued at about $34,000. Kestra Advisory Services LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at about $38,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Phathom Pharmaceuticals by 71.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after buying an additional 2,122 shares during the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Up 6.4%

NASDAQ:PHAT opened at $11.20 on Friday. Phathom Pharmaceuticals has a 1-year low of $7.61 and a 1-year high of $18.31. The firm has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $12.46. The stock has a market capitalization of $893.31 million, a PE ratio of -5.28 and a beta of 0.49.

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.