Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price Up 7.7% – What’s Next?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price was up 7.7% on Wednesday . The stock traded as high as $17.66 and last traded at $17.6350. Approximately 256,433 shares changed hands during trading, a decline of 49% from the average daily volume of 506,404 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. HC Wainwright lifted their price target on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen upgraded shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Guggenheim reissued a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th. Barclays initiated coverage on Phathom Pharmaceuticals in a research report on Monday, December 8th. They issued an “equal weight” rating and a $16.00 price objective for the company. Finally, Craig Hallum reissued a “buy” rating and issued a $22.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Phathom Pharmaceuticals Stock Performance

The company has a 50 day moving average of $15.30 and a 200 day moving average of $12.40. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.93 and a beta of 0.48.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.15. The company had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. As a group, research analysts expect that Phathom Pharmaceuticals, Inc. will post -4.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in shares of Phathom Pharmaceuticals by 442.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock valued at $30,000 after buying an additional 2,058 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Phathom Pharmaceuticals during the second quarter worth $30,000. Ameritas Investment Partners Inc. grew its position in Phathom Pharmaceuticals by 39.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after buying an additional 1,216 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after buying an additional 2,122 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Phathom Pharmaceuticals by 58.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after buying an additional 2,102 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

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.