Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 1-Year High – What’s Next?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $16.60 and last traded at $16.2420, with a volume of 210470 shares trading hands. The stock had previously closed at $15.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 price objective for the company. Raymond James Financial assumed coverage on shares of Phathom Pharmaceuticals in a research report on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 price target on the stock. Wall Street Zen raised Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. HC Wainwright boosted their price objective on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Phathom Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Phathom Pharmaceuticals Trading Up 3.6%

The business has a 50-day moving average of $14.09 and a 200 day moving average of $11.48. The firm has a market capitalization of $1.13 billion, a P/E ratio of -4.16 and a beta of 0.43.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.15. The firm had revenue of $49.50 million during the quarter, compared to analyst estimates of $47.03 million. As a group, research analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.78 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp raised its holdings in shares of Phathom Pharmaceuticals by 442.6% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in Phathom Pharmaceuticals during the 2nd quarter worth approximately $30,000. Ameritas Investment Partners Inc. increased its holdings in Phathom Pharmaceuticals by 39.3% during the 2nd 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 in the last quarter. BNP Paribas Financial Markets raised its stake 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 worth $49,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Phathom Pharmaceuticals by 58.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after purchasing an additional 2,102 shares in the last quarter. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Company Profile

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.