Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $24.50.

PHAT has been the subject of several recent analyst reports. Barclays raised shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $16.00 to $18.00 in a research note on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Wednesday, June 17th.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Phathom Pharmaceuticals in the fourth quarter worth $27,000. Raymond James Financial Inc. purchased a new position in Phathom Pharmaceuticals during the 2nd quarter valued at $30,000. Summit Securities Group LLC purchased a new position in Phathom Pharmaceuticals during the 1st quarter valued at $34,000. Kestra Advisory Services LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter worth $38,000. Finally, BNP Paribas Financial Markets raised its holdings in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after purchasing an additional 2,122 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Stock Up 4.0%

Shares of PHAT opened at $11.70 on Thursday. The stock has a market capitalization of $933.19 million, a P/E ratio of -5.52 and a beta of 0.49. Phathom Pharmaceuticals has a twelve month low of $7.84 and a twelve month high of $18.31. The firm has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $11.93.

About Phathom Pharmaceuticals

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.