Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Average Recommendation of “Moderate Buy” from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.00.

PHAT has been the subject of several research reports. Barclays upgraded Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Tuesday, April 21st. Guggenheim boosted their price target on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Stifel Nicolaus set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, February 26th.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming purchased a new stake in Phathom Pharmaceuticals in the 1st quarter valued at $55,000. KBC Group NV purchased a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth $857,000. Swiss National Bank boosted its position in shares of Phathom Pharmaceuticals by 10.2% during the 1st quarter. Swiss National Bank now owns 92,600 shares of the company’s stock valued at $1,029,000 after acquiring an additional 8,600 shares during the last quarter. Kera Capital Partners Inc. grew its holdings in shares of Phathom Pharmaceuticals by 10.6% in the first quarter. Kera Capital Partners Inc. now owns 26,826 shares of the company’s stock valued at $298,000 after purchasing an additional 2,571 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Phathom Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after purchasing an additional 1,051 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Stock Up 0.2%

PHAT stock opened at $12.56 on Friday. Phathom Pharmaceuticals has a 52 week low of $3.10 and a 52 week high of $18.31. The firm has a 50-day simple moving average of $11.57 and a 200-day simple moving average of $13.38. The stock has a market capitalization of $1.00 billion, a P/E ratio of -5.92 and a beta of 0.57.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $57.44 million. On average, analysts expect that Phathom Pharmaceuticals will post -0.25 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.