Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Average Rating of “Moderate Buy” from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.8571.

Several equities analysts recently issued reports on the company. Craig Hallum restated a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Guggenheim lowered their price objective on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Needham & Company LLC dropped their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, July 31st.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Millennium Management LLC increased its position 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 valued at $59,809,000 after acquiring an additional 2,830,954 shares during the period. BlackRock Inc. bought a new position in shares of Phathom Pharmaceuticals during the second quarter valued at about $49,098,000. Invesco Ltd. boosted its holdings in shares of Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after purchasing an additional 489,260 shares during the period. Carlyle Group Inc. purchased a new stake in shares of Phathom Pharmaceuticals during the second quarter worth about $37,940,000. Finally, Vanguard Group Inc. grew its stake in shares of Phathom Pharmaceuticals by 15.4% in the third quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after purchasing an additional 428,261 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

PHAT opened at $9.58 on Monday. Phathom Pharmaceuticals has a 12 month low of $8.21 and a 12 month high of $18.31. The business’s 50-day moving average price is $10.48 and its 200-day moving average price is $11.29. The company has a market cap of $775.02 million, a P/E ratio of -7.48 and a beta of 0.51.

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.