Guggenheim Cuts Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $30.00

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) had its price objective cut by Guggenheim from $42.00 to $30.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on PHAT. The Goldman Sachs Group decreased their price target on shares of Phathom Pharmaceuticals from $15.00 to $9.00 and set a neutral rating for the company in a research note on Wednesday, August 3rd. Jefferies Financial Group assumed coverage on shares of Phathom Pharmaceuticals in a research note on Thursday, October 20th. They set a buy rating and a $16.00 price target for the company. Needham & Company LLC decreased their price target on shares of Phathom Pharmaceuticals from $44.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, August 3rd. Finally, BMO Capital Markets decreased their price target on shares of Phathom Pharmaceuticals from $54.00 to $45.00 in a research note on Wednesday, August 3rd.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $10.59 on Friday. The company has a 50 day moving average price of $10.06 and a 200-day moving average price of $9.34. The company has a debt-to-equity ratio of 2.39, a quick ratio of 9.93 and a current ratio of 9.93. Phathom Pharmaceuticals has a fifty-two week low of $6.09 and a fifty-two week high of $22.58. The company has a market capitalization of $440.77 million, a PE ratio of -2.27 and a beta of 0.39.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc raised its stake in Phathom Pharmaceuticals by 20.1% in the second quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after buying an additional 1,061 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Phathom Pharmaceuticals by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 61,288 shares of the company’s stock worth $834,000 after purchasing an additional 1,948 shares in the last quarter. Swiss National Bank increased its position in shares of Phathom Pharmaceuticals by 7.7% during the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $455,000 after purchasing an additional 2,400 shares in the last quarter. Rhumbline Advisers increased its position in shares of Phathom Pharmaceuticals by 16.0% during the first quarter. Rhumbline Advisers now owns 19,968 shares of the company’s stock worth $272,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Phathom Pharmaceuticals by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 126,187 shares of the company’s stock valued at $1,718,000 after buying an additional 2,888 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

About Phathom Pharmaceuticals

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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) that blocks acid secretion in the stomach.

Further Reading

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