Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Rating of “Buy” by Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned an average rating of “Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One research 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. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.50.

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

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Phathom Pharmaceuticals by 0.8% during the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after purchasing an additional 1,123 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Phathom Pharmaceuticals by 39.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock worth $41,000 after purchasing an additional 1,216 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Phathom Pharmaceuticals by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock worth $152,000 after purchasing an additional 1,364 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Phathom Pharmaceuticals by 58.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock worth $55,000 after purchasing an additional 2,102 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Phathom Pharmaceuticals by 71.9% during the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after purchasing an additional 2,122 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Trading Down 0.4%

NASDAQ:PHAT opened at $11.66 on Friday. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $19.50. The firm has a fifty day simple moving average of $10.62 and a 200-day simple moving average of $7.61. The company has a market capitalization of $827.16 million, a P/E ratio of -2.47 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.