Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $17.60 Consensus PT from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been given an average recommendation of “Buy” by the six analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.60.

PHAT has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. HC Wainwright decreased their price objective on Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group cut their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares in the last quarter. CWM LLC grew its position in shares of Phathom Pharmaceuticals by 20,997.1% during the first quarter. CWM LLC now owns 7,384 shares of the company’s stock worth $46,000 after acquiring an additional 7,349 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Phathom Pharmaceuticals during the 4th quarter worth $74,000. Teacher Retirement System of Texas purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth about $90,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $90,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Stock Down 1.6%

NASDAQ PHAT opened at $4.24 on Friday. Phathom Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $19.71. The firm has a market capitalization of $296.01 million, a P/E ratio of -0.75 and a beta of 0.15. The company has a 50-day moving average price of $4.20 and a 200-day moving average price of $6.04.

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.