Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Gap Up – What’s Next?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) gapped up prior to trading on Friday . The stock had previously closed at $13.31, but opened at $14.43. Phathom Pharmaceuticals shares last traded at $13.7590, with a volume of 171,292 shares traded.

Analyst Upgrades and Downgrades

PHAT has been the topic of a number of research analyst reports. Craig Hallum restated a “buy” rating and issued a $22.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday. Guggenheim restated a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. HC Wainwright upped their price target on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Phathom Pharmaceuticals Trading Up 1.8%

The firm’s 50-day moving average price is $12.31 and its two-hundred day moving average price is $8.99. The stock has a market cap of $961.24 million, a PE ratio of -3.55 and a beta of 0.43.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of PHAT. Raymond James Financial Inc. purchased a new stake in Phathom Pharmaceuticals during the second quarter valued at approximately $30,000. Ameritas Investment Partners Inc. lifted its position in Phathom Pharmaceuticals by 39.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after acquiring an additional 1,216 shares during the last quarter. CWM LLC lifted its position in Phathom Pharmaceuticals by 20,997.1% during the first quarter. CWM LLC now owns 7,384 shares of the company’s stock valued at $46,000 after acquiring an additional 7,349 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Phathom Pharmaceuticals by 71.9% during the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after acquiring an additional 2,122 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Phathom Pharmaceuticals by 58.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after acquiring an additional 2,102 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.