Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Has Average Price Target of $21.25

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.25.

PHAT has been the topic of several research reports. Guggenheim dropped their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Needham & Company LLC reduced their price target on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Craig Hallum reiterated a “buy” rating and issued a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Barclays cut their target price on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Finally, Leerink Partners initiated coverage on Phathom Pharmaceuticals in a report on Wednesday, September 9th. They set a “market perform” rating and a $10.00 price target for the company.

Institutional Trading of Phathom Pharmaceuticals

Large investors have recently modified their holdings of the company. Opaleye Management Inc. bought a new stake in Phathom Pharmaceuticals during the second quarter valued at about $2,014,000. Engineers Gate Manager LP grew its stake in shares of Phathom Pharmaceuticals by 60.1% in the second quarter. Engineers Gate Manager LP now owns 118,257 shares of the company’s stock worth $1,283,000 after acquiring an additional 44,409 shares during the last quarter. NewEdge Advisors LLC increased its position in Phathom Pharmaceuticals by 11.5% during the second quarter. NewEdge Advisors LLC now owns 203,962 shares of the company’s stock worth $2,213,000 after acquiring an additional 20,962 shares during the period. Pale Fire Capital SE bought a new position in Phathom Pharmaceuticals during the second quarter worth $539,000. Finally, Hsbc Holdings PLC bought a new position in shares of Phathom Pharmaceuticals during the 2nd quarter worth about $7,702,000. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Trading Up 4.7%

Shares of Phathom Pharmaceuticals stock opened at $7.13 on Tuesday. The company’s 50-day moving average price is $8.34 and its two-hundred day moving average price is $10.25. Phathom Pharmaceuticals has a 52 week low of $6.52 and a 52 week high of $18.31. The stock has a market cap of $576.82 million, a PE ratio of -5.57 and a beta of 0.50.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s portfolio is centered on vonoprazan, a potassium-competitive acid blocker designed to suppress gastric acid production and provide an alternative to traditional proton pump inhibitors.

Phathom markets vonoprazan in the United States under the brand name Voquezna. The product is approved for the healing and maintenance of healing of erosive esophagitis, relief of associated heartburn, and treatment of heartburn related to non-erosive gastroesophageal reflux disease.