Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Has Average Target Price of $21.25

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $21.25.

Several equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. Leerink Partners began coverage on shares of Phathom Pharmaceuticals in a research note on Wednesday, September 9th. They set a “market perform” rating and a $10.00 price objective for the company. Guggenheim cut their target price on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Phathom Pharmaceuticals in the 1st quarter valued at about $34,000. State of Wyoming purchased a new position in shares of Phathom Pharmaceuticals in the first quarter valued at $55,000. 9823 Capital L.P. acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at about $173,000. Allworth Financial LP acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter valued at approximately $113,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Phathom Pharmaceuticals during the first quarter worth approximately $128,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Trading Down 1.7%

Shares of PHAT opened at $7.13 on Tuesday. Phathom Pharmaceuticals has a 12-month low of $6.52 and a 12-month high of $18.31. The firm has a market cap of $576.82 million, a PE ratio of -5.57 and a beta of 0.50. The company’s 50 day simple moving average is $8.27 and its 200-day simple moving average is $10.21.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s portfolio is centered on vonoprazan, a potassium-competitive acid blocker designed to suppress gastric acid production and provide an alternative to traditional proton pump inhibitors.

Phathom markets vonoprazan in the United States under the brand name Voquezna. The product is approved for the healing and maintenance of healing of erosive esophagitis, relief of associated heartburn, and treatment of heartburn related to non-erosive gastroesophageal reflux disease.