Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $21.00 Average Price Target from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $21.00.

Several equities research analysts recently issued reports on the company. Craig Hallum reiterated a “buy” rating and issued a $22.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, October 31st. Raymond James Financial initiated coverage on Phathom Pharmaceuticals in a research note on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, January 22nd. Guggenheim reaffirmed a “buy” rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Finally, Barclays started coverage on shares of Phathom Pharmaceuticals in a report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Phathom Pharmaceuticals by 0.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after buying an additional 1,123 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of 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. The Manufacturers Life Insurance Company raised its stake in shares of Phathom Pharmaceuticals by 9.4% in the 2nd 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 period. Jones Financial Companies Lllp raised its stake 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 acquiring an additional 2,058 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Phathom Pharmaceuticals by 58.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock worth $55,000 after acquiring an additional 2,102 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $13.23 on Thursday. The firm has a fifty day moving average of $15.26 and a 200 day moving average of $13.10. The firm has a market cap of $944.89 million, a PE ratio of -3.46 and a beta of 0.51. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $18.31.

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.