Phathom Pharmaceuticals, Inc. (PHAT) – What Are Investment Firms Thinking About This Stock?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.11.

A number of research firms recently commented on PHAT. Barclays reduced their price target on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Jefferies Financial Group reissued a “buy” rating and set a $16.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, October 14th. Leerink Partners began coverage on Phathom Pharmaceuticals in a research note on Wednesday, September 9th. They set a “market perform” rating and a $10.00 price target on the stock. HC Wainwright restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, October 30th. Finally, Craig Hallum restated a “buy” rating and issued a $15.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, October 21st.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in Phathom Pharmaceuticals during the 1st quarter worth about $34,000. State of Alaska Department of Revenue bought a new position in Phathom Pharmaceuticals during the third quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Phathom Pharmaceuticals in the third quarter worth $30,000. State of Wyoming bought a new stake in Phathom Pharmaceuticals during the 1st quarter worth about $55,000. Finally, Allworth Financial LP bought a new position in shares of Phathom Pharmaceuticals during the second quarter worth about $113,000. Institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $5.25 on Friday. The business’s fifty day moving average is $7.31 and its two-hundred day moving average is $10.24. Phathom Pharmaceuticals has a fifty-two week low of $5.01 and a fifty-two week high of $18.31.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc (NASDAQ: PHAT) is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s principal product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress stomach acid through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for the treatment of Helicobacter pylori infection in combination with antibiotics and for certain forms of gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD.