Craig Hallum Issues Positive Forecast for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price increased by Craig Hallum from $12.00 to $17.00 in a report released on Monday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday. Guggenheim dropped their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group reduced their target price on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Down 1.0%

Shares of NASDAQ:PHAT opened at $8.83 on Monday. Phathom Pharmaceuticals has a twelve month low of $2.21 and a twelve month high of $19.71. The stock’s 50 day moving average is $4.21 and its 200-day moving average is $5.87. The firm has a market capitalization of $616.46 million, a price-to-earnings ratio of -1.55 and a beta of 0.08.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in PHAT. Kera Capital Partners Inc. increased its position in shares of Phathom Pharmaceuticals by 11.2% in the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after purchasing an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Phathom Pharmaceuticals by 18.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company’s stock worth $180,000 after acquiring an additional 3,408 shares during the last quarter. ProShare Advisors LLC grew its position in Phathom Pharmaceuticals by 36.3% in the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after acquiring an additional 3,804 shares in the last quarter. GAMMA Investing LLC increased its stake in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock valued at $29,000 after acquiring an additional 4,050 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after purchasing an additional 4,557 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors.

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.