Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.00.

Several equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Tuesday, April 21st. Guggenheim lifted their price objective on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Stifel Nicolaus set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, February 26th. Finally, Barclays upgraded shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $16.00 to $18.00 in a research note on Friday, March 27th.

Phathom Pharmaceuticals Trading Up 4.4%

NASDAQ:PHAT opened at $9.65 on Wednesday. Phathom Pharmaceuticals has a 12 month low of $4.47 and a 12 month high of $18.31. The firm has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $13.16. The company has a market capitalization of $769.68 million, a P/E ratio of -4.55 and a beta of 0.50.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in PHAT. AQR Capital Management LLC lifted its position in Phathom Pharmaceuticals by 508.2% during the first quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock valued at $673,000 after purchasing an additional 89,741 shares during the period. JPMorgan Chase & Co. lifted its position in Phathom Pharmaceuticals by 0.8% during the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after purchasing an additional 1,123 shares during the period. Rhumbline Advisers lifted its position in Phathom Pharmaceuticals by 13.8% during the second quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock valued at $619,000 after purchasing an additional 7,818 shares during the period. Invesco Ltd. lifted its position in Phathom Pharmaceuticals by 13.4% during the second quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after purchasing an additional 489,260 shares during the period. Finally, Nebula Research & Development LLC lifted its position in Phathom Pharmaceuticals by 31.6% during the second quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock valued at $364,000 after purchasing an additional 9,116 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.