Analysts Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Target Price at $17.50

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.50.

A number of research firms recently commented on PHAT. Craig Hallum upped their price objective on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 9th. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research report on Monday, June 9th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Guggenheim reduced their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, June 6th.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after acquiring an additional 4,050 shares during the period. CWM LLC boosted its stake in shares of Phathom Pharmaceuticals by 20,997.1% in the first quarter. CWM LLC now owns 7,384 shares of the company’s stock worth $46,000 after acquiring an additional 7,349 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $74,000. Teacher Retirement System of Texas bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $90,000. Finally, Rafferty Asset Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $90,000. Institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $10.42 on Wednesday. The stock has a market cap of $727.42 million, a PE ratio of -1.99 and a beta of 0.08. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $19.71. The stock has a fifty day moving average of $5.23 and a 200 day moving average of $5.99.

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.