Brokerages Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Price Target at $21.00

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.00.

PHAT has been the topic of a number of analyst reports. Craig Hallum reiterated a “buy” rating and set a $22.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Guggenheim reaffirmed a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Thursday, October 30th. Barclays assumed coverage on shares of Phathom Pharmaceuticals in a research note on Monday, December 8th. They issued an “equal weight” rating and a $16.00 price objective on the stock. Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Thursday, January 22nd.

Phathom Pharmaceuticals Stock Up 1.0%

Shares of PHAT opened at $13.67 on Thursday. Phathom Pharmaceuticals has a 12-month low of $2.21 and a 12-month high of $18.31. The stock’s fifty day simple moving average is $15.35 and its 200-day simple moving average is $12.98. The firm has a market capitalization of $976.31 million, a PE ratio of -3.58 and a beta of 0.48.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.15. The business had revenue of $49.50 million during the quarter, compared to the consensus estimate of $47.03 million. Analysts anticipate that Phathom Pharmaceuticals will post -4.78 EPS for the current year.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp increased its position in Phathom Pharmaceuticals by 442.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock valued at $30,000 after acquiring an additional 2,058 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Phathom Pharmaceuticals in the second quarter worth $30,000. Ameritas Investment Partners Inc. increased its holdings in Phathom Pharmaceuticals by 39.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,216 shares during the period. BNP Paribas Financial Markets raised its position in Phathom Pharmaceuticals by 71.9% during the 2nd 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 Phathom Pharmaceuticals by 58.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock worth $55,000 after buying an additional 2,102 shares during the period. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.