Phathom Pharmaceuticals (NASDAQ:PHAT) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Monday morning,Benzinga reports. HC Wainwright currently has a $20.00 target price on the stock.

PHAT has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price 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. Guggenheim cut their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Finally, Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $17.50.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $8.83 on Monday. Phathom Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $19.71. The company has a market capitalization of $616.46 million, a P/E ratio of -1.55 and a beta of 0.08. The company has a fifty day moving average of $4.21 and a 200 day moving average of $5.87.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Phathom Pharmaceuticals by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock valued at $22,570,000 after purchasing an additional 83,238 shares during the last quarter. Wasatch Advisors LP raised its position in Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company’s stock worth $12,658,000 after purchasing an additional 1,311,986 shares during the period. 683 Capital Management LLC lifted its stake in Phathom Pharmaceuticals by 41.0% in the first quarter. 683 Capital Management LLC now owns 1,445,000 shares of the company’s stock worth $9,060,000 after purchasing an additional 420,000 shares during the last quarter. Catalys Pacific LLC boosted its position in shares of Phathom Pharmaceuticals by 4.0% during the fourth quarter. Catalys Pacific LLC now owns 1,167,114 shares of the company’s stock valued at $9,477,000 after buying an additional 44,542 shares during the period. Finally, Propel Bio Management LLC grew its stake in shares of Phathom Pharmaceuticals by 14.6% during the first quarter. Propel Bio Management LLC now owns 1,134,927 shares of the company’s stock valued at $7,116,000 after buying an additional 145,000 shares during the last quarter. 99.01% of the stock is owned by hedge funds and other 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.