Brokerages Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Target Price at $24.50

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.50.

PHAT has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $26.00 price objective on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th. Barclays upgraded Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $16.00 to $18.00 in a research note on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Tuesday, April 21st.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ:PHAT opened at $11.20 on Friday. The firm has a fifty day moving average price of $11.07 and a two-hundred day moving average price of $12.45. The company has a market cap of $893.31 million, a price-to-earnings ratio of -5.28 and a beta of 0.49. Phathom Pharmaceuticals has a one year low of $7.61 and a one year high of $18.31.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $1,908,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth $2,439,000. GW&K Investment Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 9.1% during the 3rd quarter. GW&K Investment Management LLC now owns 1,144,330 shares of the company’s stock worth $13,469,000 after acquiring an additional 95,858 shares during the last quarter. Next Century Growth Investors LLC purchased a new position in Phathom Pharmaceuticals in the fourth quarter worth $6,533,000. Finally, Stratos Wealth Partners LTD. purchased a new position in Phathom Pharmaceuticals in the fourth quarter worth $834,000. 99.01% of the stock is owned by hedge funds and other 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.