Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded to Hold at Leerink Partners

Leerink Partners upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) to a hold rating in a report published on Wednesday morning,Zacks reports.

A number of other brokerages have also weighed in on PHAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Barclays cut their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Finally, Needham & Company LLC dropped their target price on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.25.

Phathom Pharmaceuticals Stock Down 8.1%

Shares of PHAT stock opened at $8.67 on Wednesday. Phathom Pharmaceuticals has a 12-month low of $8.21 and a 12-month high of $18.31. The firm has a fifty day moving average of $9.97 and a 200-day moving average of $10.81. The company has a market capitalization of $701.40 million, a price-to-earnings ratio of -6.77 and a beta of 0.51.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $27,000. Raymond James Financial Inc. bought a new position in shares of Phathom Pharmaceuticals during the 2nd quarter worth approximately $30,000. Summit Securities Group LLC acquired a new position in shares of Phathom Pharmaceuticals in the first quarter valued at $34,000. Kestra Advisory Services LLC acquired a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $38,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Phathom Pharmaceuticals by 71.9% during the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after purchasing an additional 2,122 shares during the period. Institutional investors own 99.01% of the company’s stock.

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.