Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $25.00.

A number of equities research analysts have recently issued reports on the company. Guggenheim upped their price target on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st. Barclays upgraded Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $16.00 to $18.00 in a research report on Friday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a research report on Thursday, February 26th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of Phathom Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,051 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Phathom Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after acquiring an additional 1,123 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Phathom Pharmaceuticals by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock valued at $152,000 after acquiring an additional 1,364 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Phathom Pharmaceuticals in the fourth quarter valued at approximately $27,000. Finally, AQR Capital Management LLC lifted its holdings in Phathom Pharmaceuticals by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 54,448 shares of the company’s stock valued at $903,000 after acquiring an additional 1,819 shares during the last quarter. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Trading Down 0.6%

NASDAQ:PHAT opened at $12.16 on Friday. Phathom Pharmaceuticals has a 12 month low of $2.33 and a 12 month high of $18.31. The stock has a 50 day moving average of $11.58 and a two-hundred day moving average of $13.42. The firm has a market cap of $969.88 million, a P/E ratio of -5.74 and a beta of 0.57.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $57.58 million during the quarter, compared to analysts’ expectations of $57.44 million. On average, research analysts forecast that Phathom Pharmaceuticals will post -0.25 earnings per share for the current year.

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.