Phathom Pharmaceuticals’ (NASDAQ:PHAT) Quiet Period Set To End on December 4th

Phathom Pharmaceuticals’ (NASDAQ:PHAT) quiet period will end on Wednesday, December 4th. Phathom Pharmaceuticals had issued 9,563,157 shares in its initial public offering on October 25th. The total size of the offering was $181,699,983 based on an initial share price of $19.00. During Phathom Pharmaceuticals’ quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Several analysts have recently issued reports on PHAT shares. Needham & Company LLC initiated coverage on Phathom Pharmaceuticals in a report on Wednesday, November 27th. They set a “buy” rating and a $40.00 price objective on the stock. Evercore ISI began coverage on Phathom Pharmaceuticals in a research report on Wednesday, November 27th. They set an “outperform” rating for the company. Goldman Sachs Group started coverage on shares of Phathom Pharmaceuticals in a report on Wednesday, November 27th. They issued a “neutral” rating and a $32.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Phathom Pharmaceuticals in a research report on Wednesday, November 27th. They issued a “buy” rating and a $32.00 price target on the stock.

Phathom Pharmaceuticals stock opened at $25.94 on Wednesday. Phathom Pharmaceuticals has a twelve month low of $20.26 and a twelve month high of $28.51.

In other Phathom Pharmaceuticals news, major shareholder Life Sciences Ix L.P. Frazier bought 1,052,631 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average cost of $23.56 per share, for a total transaction of $24,799,986.36.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium competitive acid blocker (P-CAB) in late clinical-stage development for the treatment of gastric acid-related diseases.

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