Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Increased to $10.00 by Analysts at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target raised by The Goldman Sachs Group from $9.00 to $10.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed a buy rating and issued a $23.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, September 27th. HC Wainwright started coverage on shares of Phathom Pharmaceuticals in a research report on Wednesday, August 9th. They issued a buy rating and a $28.00 price target for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $22.33.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $7.95 on Friday. The company has a market cap of $451.56 million, a PE ratio of -1.80 and a beta of 0.57. Phathom Pharmaceuticals has a twelve month low of $5.84 and a twelve month high of $17.02. The company’s 50-day moving average price is $11.01 and its 200-day moving average price is $12.41. The company has a quick ratio of 11.96, a current ratio of 11.96 and a debt-to-equity ratio of 5.56.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.11. On average, equities research analysts forecast that Phathom Pharmaceuticals will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 12,492 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $8.88, for a total transaction of $110,928.96. Following the transaction, the chief financial officer now owns 105,188 shares in the company, valued at approximately $934,069.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 27.10% of the stock is currently owned by company insiders.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carlyle Group Inc. purchased a new stake in Phathom Pharmaceuticals during the first quarter worth $20,869,000. Medicxi Ventures Management Jersey Ltd boosted its holdings in Phathom Pharmaceuticals by 51.4% during the second quarter. Medicxi Ventures Management Jersey Ltd now owns 3,760,869 shares of the company’s stock worth $53,856,000 after buying an additional 1,276,595 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in Phathom Pharmaceuticals during the second quarter worth $15,031,000. Decheng Capital Management III Cayman LLC purchased a new stake in Phathom Pharmaceuticals during the second quarter worth $12,172,000. Finally, Woodline Partners LP purchased a new stake in Phathom Pharmaceuticals during the second quarter worth $9,647,000. Institutional investors and hedge funds own 93.14% of the company’s stock.

About Phathom Pharmaceuticals

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.