Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $24.50 Average Target Price from Analysts

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $24.50.

PHAT has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th.

Institutional Trading of Phathom Pharmaceuticals

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth about $27,000. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals during the 2nd quarter valued at about $30,000. Summit Securities Group LLC bought a new stake in Phathom Pharmaceuticals during the 1st quarter worth approximately $34,000. Kestra Advisory Services LLC purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth approximately $38,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $11.44 on Thursday. Phathom Pharmaceuticals has a 52-week low of $8.02 and a 52-week high of $18.31. The firm has a 50 day moving average price of $10.86 and a two-hundred day moving average price of $11.90. The stock has a market cap of $912.45 million, a P/E ratio of -5.40 and a beta of 0.49.

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.