Stonepine Capital Management LLC Buys Shares of 85,010 Phathom Pharmaceuticals, Inc. $PHAT

Stonepine Capital Management LLC purchased a new position in shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 85,010 shares of the company’s stock, valued at approximately $922,358,000. Stonepine Capital Management LLC owned approximately 0.11% of Phathom Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PHAT. Caitong International Asset Management Co. Ltd purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new stake in Phathom Pharmaceuticals in the 4th quarter worth approximately $38,000. Summit Securities Group LLC acquired a new position in Phathom Pharmaceuticals in the 1st quarter valued at $34,000. Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the 2nd quarter valued at $30,000. Finally, State of Wyoming purchased a new position in shares of Phathom Pharmaceuticals during the 1st quarter worth $55,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PHAT shares. Guggenheim decreased their price objective on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Craig Hallum reissued a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Barclays dropped their price objective on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. Finally, Needham & Company LLC decreased their target price on shares of Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

Phathom Pharmaceuticals Stock Up 1.9%

PHAT stock opened at $8.94 on Friday. The company has a market cap of $723.25 million, a price-to-earnings ratio of -6.98 and a beta of 0.51. The business has a fifty day simple moving average of $10.22 and a 200-day simple moving average of $11.00. Phathom Pharmaceuticals, Inc. has a 52 week low of $8.21 and a 52 week high of $18.31.

Phathom Pharmaceuticals 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.