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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.50.

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Wednesday, June 17th.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ:PHAT opened at $11.64 on Thursday. The business’s 50-day moving average is $10.87 and its 200 day moving average is $11.76. Phathom Pharmaceuticals has a 1 year low of $8.02 and a 1 year high of $18.31. The firm has a market capitalization of $928.41 million, a P/E ratio of -5.49 and a beta of 0.49.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Phathom Pharmaceuticals by 124.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 327,278 shares of the company’s stock worth $3,551,000 after buying an additional 181,346 shares during the period. Perceptive Advisors LLC acquired a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at $10,277,000. Avidity Partners Management LP increased its position in shares of Phathom Pharmaceuticals by 21.0% in the 1st quarter. Avidity Partners Management LP now owns 249,390 shares of the company’s stock valued at $2,771,000 after acquiring an additional 43,314 shares during the period. EcoR1 Capital LLC purchased a new position in Phathom Pharmaceuticals in the 1st quarter worth $6,944,000. Finally, Quantinno Capital Management LP purchased a new position in Phathom Pharmaceuticals in the 1st quarter worth $128,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.