Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.25.

A number of research analysts have recently issued reports on PHAT shares. Barclays cut their target price 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. Needham & Company LLC decreased their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. Finally, Leerink Partners started coverage on Phathom Pharmaceuticals in a research note on Wednesday. They issued a “market perform” rating and a $10.00 price objective on the stock.

Phathom Pharmaceuticals Stock Down 3.5%

NASDAQ:PHAT opened at $8.37 on Friday. The firm has a market cap of $677.13 million, a PE ratio of -6.54 and a beta of 0.51. Phathom Pharmaceuticals has a 12 month low of $8.21 and a 12 month high of $18.31. The company’s 50-day moving average price is $9.91 and its two-hundred day moving average price is $10.79.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several large investors have recently made changes to their positions in PHAT. Caitong International Asset Management Co. Ltd bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $27,000. Raymond James Financial Inc. bought a new stake in Phathom Pharmaceuticals in the second quarter valued at about $30,000. Summit Securities Group LLC bought a new stake in Phathom Pharmaceuticals in the first quarter valued at about $34,000. Kestra Advisory Services LLC bought a new position in Phathom Pharmaceuticals during the fourth quarter worth about $38,000. Finally, BNP Paribas Financial Markets grew its position in shares of 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 buying an additional 2,122 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.