Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 52-Week High – Here’s Why

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $18.31 and last traded at $17.25, with a volume of 824350 shares changing hands. The stock had previously closed at $17.87.

Analyst Ratings Changes

A number of research firms have recently weighed in on PHAT. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. Barclays initiated coverage on Phathom Pharmaceuticals in a research note on Monday, December 8th. They issued an “equal weight” rating and a $16.00 target price on the stock. Guggenheim restated a “buy” rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, October 30th. Raymond James Financial initiated coverage on shares of Phathom Pharmaceuticals in a research report on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Phathom Pharmaceuticals Stock Up 5.2%

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.75 and a beta of 0.43. The business’s fifty day moving average is $14.69 and its 200 day moving average is $11.94.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The firm had revenue of $49.50 million for the quarter, compared to the consensus estimate of $47.03 million. Equities research analysts expect that Phathom Pharmaceuticals, Inc. will post -4.78 EPS for the current year.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently bought and sold shares of PHAT. Jones Financial Companies Lllp grew its stake in shares of Phathom Pharmaceuticals by 442.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after acquiring an additional 2,058 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Phathom Pharmaceuticals in the second quarter worth $30,000. Ameritas Investment Partners Inc. boosted its holdings in 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. BNP Paribas Financial Markets grew its position in Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after purchasing an additional 2,122 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Phathom Pharmaceuticals by 58.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after buying an additional 2,102 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.