Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Upgraded by Evercore ISI

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Rating) was upgraded by stock analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Thursday, The Fly reports.

PHAT has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 19th. Craig Hallum started coverage on Phathom Pharmaceuticals in a research note on Monday, March 13th. They issued a “buy” rating and a $21.00 price target for the company. Finally, BMO Capital Markets cut their price target on Phathom Pharmaceuticals from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.17.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $13.46 on Thursday. Phathom Pharmaceuticals has a one year low of $5.84 and a one year high of $14.45. The stock’s fifty day moving average is $9.00 and its 200 day moving average is $9.65. The stock has a market cap of $586.90 million, a P/E ratio of -2.67 and a beta of 0.36.

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Rating) last announced its earnings results on Tuesday, February 28th. The company reported ($1.33) EPS for the quarter, topping analysts’ consensus estimates of ($1.50) by $0.17. Analysts predict that Phathom Pharmaceuticals will post -5.41 EPS for the current year.

Insider Activity

In other news, CFO Molly Henderson sold 3,439 shares of the firm’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $7.27, for a total transaction of $25,001.53. Following the completion of the transaction, the chief financial officer now owns 72,576 shares in the company, valued at $527,627.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Molly Henderson sold 3,439 shares of the firm’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $7.27, for a total transaction of $25,001.53. Following the completion of the transaction, the chief financial officer now owns 72,576 shares in the company, valued at $527,627.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrie Curran acquired 12,919 shares of the business’s stock in a transaction dated Thursday, April 6th. The shares were purchased at an average price of $7.82 per share, with a total value of $101,026.58. Following the transaction, the insider now owns 188,290 shares of the company’s stock, valued at $1,472,427.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 28,919 shares of company stock worth $229,827 and sold 6,907 shares worth $54,598. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. 683 Capital Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 15.6% in the 3rd quarter. 683 Capital Management LLC now owns 1,663,943 shares of the company’s stock valued at $18,436,000 after acquiring an additional 223,943 shares during the last quarter. Curi Wealth Management LLC bought a new position in shares of Phathom Pharmaceuticals in the 3rd quarter valued at about $499,000. Rothschild & Co. Asset Management US Inc. lifted its holdings in shares of Phathom Pharmaceuticals by 3.5% in the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 207,428 shares of the company’s stock valued at $2,298,000 after acquiring an additional 7,005 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in shares of Phathom Pharmaceuticals by 0.8% in the 1st quarter. GW&K Investment Management LLC now owns 598,848 shares of the company’s stock valued at $4,276,000 after acquiring an additional 4,691 shares during the last quarter. Finally, Carlyle Group Inc. bought a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $20,869,000. Hedge funds and other institutional investors own 98.57% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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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.