Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $22.25 Consensus PT from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.25.

Several equities research analysts have weighed in on the company. Raymond James Financial started coverage on Phathom Pharmaceuticals in a research note on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, January 22nd. Barclays began coverage on Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price on the stock. Finally, Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a research note on Thursday, February 26th.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in PHAT. AIGH Capital Management LLC purchased a new stake in shares of Phathom Pharmaceuticals in the third quarter valued at about $5,049,000. Frazier Life Sciences Management L.P. boosted its holdings in Phathom Pharmaceuticals by 23.3% during the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after purchasing an additional 2,357,210 shares during the last quarter. GW&K Investment Management LLC grew its position in Phathom Pharmaceuticals by 9.1% in the 3rd quarter. GW&K Investment Management LLC now owns 1,144,330 shares of the company’s stock worth $13,469,000 after purchasing an additional 95,858 shares in the last quarter. 683 Capital Management LLC grew its position in Phathom Pharmaceuticals by 45.7% in the 2nd quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after purchasing an additional 660,000 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at about $111,000. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Trading Up 0.5%

NASDAQ PHAT opened at $11.21 on Friday. The company has a 50 day moving average of $12.52 and a 200-day moving average of $13.46. Phathom Pharmaceuticals has a 1-year low of $2.21 and a 1-year high of $18.31. The company has a market cap of $883.35 million, a price-to-earnings ratio of -3.66 and a beta of 0.51.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $57.58 million for the quarter, compared to the consensus estimate of $57.44 million. On average, equities research analysts forecast that Phathom Pharmaceuticals will post -4.78 earnings per share for the current year.

Phathom Pharmaceuticals Company Profile

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.