Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $17.50.

Several research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, June 6th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Monday, June 9th. Finally, Craig Hallum lifted their price target on Phathom Pharmaceuticals from $12.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 9th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in shares of Phathom Pharmaceuticals by 41.3% during the 4th quarter. Wells Fargo & Company MN now owns 25,516 shares of the company’s stock valued at $207,000 after purchasing an additional 7,462 shares in the last quarter. Barclays PLC boosted its stake in Phathom Pharmaceuticals by 32.3% in the 4th quarter. Barclays PLC now owns 76,463 shares of the company’s stock worth $621,000 after purchasing an additional 18,656 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Phathom Pharmaceuticals by 28.0% in the 4th quarter. MetLife Investment Management LLC now owns 24,366 shares of the company’s stock worth $198,000 after buying an additional 5,337 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Phathom Pharmaceuticals by 21.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,641 shares of the company’s stock worth $209,000 after buying an additional 4,592 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Phathom Pharmaceuticals by 24.1% in the 4th quarter. Northern Trust Corp now owns 397,964 shares of the company’s stock worth $3,231,000 after buying an additional 77,189 shares in the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Shares of Phathom Pharmaceuticals stock opened at $12.18 on Monday. Phathom Pharmaceuticals has a 52-week low of $2.21 and a 52-week high of $19.71. The stock’s 50-day simple moving average is $9.58 and its 200 day simple moving average is $6.80. The stock has a market capitalization of $864.10 million, a P/E ratio of -2.58 and a beta of 0.44.

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.