Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.25.

Several research analysts have weighed in on the stock. Barclays started coverage on shares of Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price on the stock. Stifel Nicolaus set a $28.00 price objective on Phathom Pharmaceuticals in a research note on Thursday, February 26th. Raymond James Financial started coverage on Phathom Pharmaceuticals in a research report on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock opened at $10.79 on Friday. The stock’s 50 day moving average price is $12.15 and its 200 day moving average price is $13.39. Phathom Pharmaceuticals has a 1-year low of $2.21 and a 1-year high of $18.31. The company has a market cap of $850.24 million, a PE ratio of -3.53 and a beta of 0.51.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $57.58 million during the quarter, compared to analyst estimates of $57.44 million. On average, equities research analysts anticipate that Phathom Pharmaceuticals will post -4.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its position in shares of Phathom Pharmaceuticals by 23.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock valued at $119,554,000 after purchasing an additional 2,357,210 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Phathom Pharmaceuticals by 125.8% in the third quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after acquiring an additional 2,830,954 shares during the last quarter. Invesco Ltd. lifted its position in shares of Phathom Pharmaceuticals by 13.4% in the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after acquiring an additional 489,260 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Phathom Pharmaceuticals by 15.4% during the third quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock valued at $37,847,000 after acquiring an additional 428,261 shares during the last quarter. Finally, 683 Capital Management LLC increased its position in Phathom Pharmaceuticals by 45.7% during the 2nd quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after purchasing an additional 660,000 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.