The Goldman Sachs Group Issues Pessimistic Forecast for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target lowered by analysts at The Goldman Sachs Group from $10.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 81.16% from the company’s current price.

Other analysts have also issued research reports about the company. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Monday, April 21st. HC Wainwright decreased their price target on shares of Phathom Pharmaceuticals from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday. Guggenheim cut their price objective on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Friday. Finally, Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.60.

Phathom Pharmaceuticals Stock Down 17.9 %

Shares of PHAT stock opened at $2.76 on Friday. The company has a 50 day moving average price of $4.96 and a 200-day moving average price of $7.76. Phathom Pharmaceuticals has a 52 week low of $2.71 and a 52 week high of $19.71. The firm has a market capitalization of $192.23 million, a PE ratio of -0.49 and a beta of 0.35.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in PHAT. Jennison Associates LLC boosted its stake in Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock worth $57,348,000 after purchasing an additional 1,196,118 shares during the period. Raymond James Financial Inc. purchased a new position in Phathom Pharmaceuticals during the fourth quarter valued at $3,701,000. Barclays PLC increased its holdings in Phathom Pharmaceuticals by 366.0% in the 3rd quarter. Barclays PLC now owns 57,807 shares of the company’s stock valued at $1,044,000 after acquiring an additional 45,402 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Phathom Pharmaceuticals by 10.0% during the 4th quarter. Rhumbline Advisers now owns 55,968 shares of the company’s stock valued at $454,000 after purchasing an additional 5,110 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Phathom Pharmaceuticals by 20.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,038 shares of the company’s stock valued at $2,867,000 after purchasing an additional 60,178 shares in the last quarter. Institutional investors own 99.01% of the company’s stock.

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.