Needham & Company LLC Cuts Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $22.00

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price objective lowered by Needham & Company LLC from $28.00 to $22.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research report on Wednesday, June 17th. One 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ:PHAT opened at $8.75 on Thursday. The business’s 50-day simple moving average is $10.77 and its 200 day simple moving average is $11.70. The company has a market cap of $697.90 million, a P/E ratio of -6.84 and a beta of 0.49. Phathom Pharmaceuticals has a one year low of $8.02 and a one year high of $18.31.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $1,908,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $2,439,000. SummitTX Capital L.P. grew its position in shares of Phathom Pharmaceuticals by 92.3% during the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company’s stock worth $11,064,000 after buying an additional 478,065 shares in the last quarter. Next Century Growth Investors LLC bought a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth $6,533,000. Finally, EcoR1 Capital LLC bought a new stake in shares of Phathom Pharmaceuticals in the first quarter worth $6,944,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Key Headlines Impacting Phathom Pharmaceuticals

Here are the key news stories impacting Phathom Pharmaceuticals this week:

• Positive Sentiment: Phathom reported second-quarter revenue of approximately $74.3 million, ahead of the $72.7 million analyst consensus. Earnings also improved substantially from the year-earlier period, with some reports characterizing results as breakeven, although another data source reported a loss of $0.08 per share versus expectations for a $0.06 loss. Phathom Pharmaceuticals Reports Second Quarter 2026 Financial Results and Provides Business Update
• Positive Sentiment: Needham maintained a “buy” rating and set a $22 price target, implying substantial potential upside from recent trading levels. The target, however, was reduced from $28, limiting the positive impact. Phathom Pharmaceuticals Given New Price Target at Needham
• Neutral Sentiment: Management is expanding its commercial organization to more than 290 sales representatives, indicating continued investment in product growth but also potentially increasing near-term operating costs. Phathom Pharmaceuticals Q2 2026 Earnings Call Transcript
• Negative Sentiment: Phathom lowered its fiscal 2026 revenue guidance to $310 million-$325 million, below the roughly $334.3 million consensus estimate and below its previous high end of $345 million. The outlook reduction was the primary fundamental catalyst for the sharp decline in the stock. Phathom Pharmaceuticals Investigation Notice
• Negative Sentiment: Levi & Korsinsky announced an investigation into whether Phathom may have violated securities laws in connection with its guidance update. The potential legal overhang adds further pressure following the guidance reduction.

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.