BMO Capital Markets Lowers Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $45.00

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) had its target price lowered by BMO Capital Markets from $54.00 to $45.00 in a report published on Wednesday morning, The Fly reports.

Several other brokerages also recently commented on PHAT. Needham & Company LLC reduced their target price on Phathom Pharmaceuticals from $44.00 to $38.00 and set a buy rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their target price on Phathom Pharmaceuticals from $15.00 to $9.00 and set a neutral rating for the company in a research note on Wednesday.

Phathom Pharmaceuticals Stock Up 3.0 %

Shares of Phathom Pharmaceuticals stock opened at $7.25 on Wednesday. The company has a current ratio of 9.93, a quick ratio of 12.79 and a debt-to-equity ratio of 2.39. The business has a 50-day moving average price of $8.33 and a two-hundred day moving average price of $12.19. Phathom Pharmaceuticals has a 1-year low of $6.09 and a 1-year high of $37.17.

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($1.07) earnings per share for the quarter.

Insider Buying and Selling at Phathom Pharmaceuticals

In related news, COO Azmi Nabulsi purchased 20,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was acquired at an average price of $8.16 per share, for a total transaction of $163,200.00. Following the purchase, the chief operating officer now owns 785,700 shares of the company’s stock, valued at $6,411,312. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Terrie Curran bought 20,500 shares of the company’s stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $7.41 per share, with a total value of $151,905.00. Following the transaction, the insider now directly owns 64,595 shares in the company, valued at $478,648.95. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Azmi Nabulsi purchased 20,000 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of $8.16 per share, for a total transaction of $163,200.00. Following the acquisition, the chief operating officer now directly owns 785,700 shares in the company, valued at approximately $6,411,312. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 53,000 shares of company stock worth $415,105. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in Phathom Pharmaceuticals during the 1st quarter valued at $45,000. Exane Derivatives grew its position in shares of Phathom Pharmaceuticals by 16.1% during the 1st quarter. Exane Derivatives now owns 5,874 shares of the company’s stock valued at $80,000 after purchasing an additional 816 shares in the last quarter. Advisor Group Holdings Inc. grew its position in shares of Phathom Pharmaceuticals by 173.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,668 shares of the company’s stock valued at $112,000 after purchasing an additional 3,592 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Phathom Pharmaceuticals during the 2nd quarter valued at $136,000. Finally, MetLife Investment Management LLC grew its position in shares of Phathom Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 12,302 shares of the company’s stock valued at $167,000 after purchasing an additional 4,540 shares in the last quarter. Institutional investors own 90.11% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.

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