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

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.50.

Several research analysts have recently issued reports on PHAT shares. Barclays raised Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, June 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $11.70 on Thursday. The stock’s 50 day simple moving average is $10.90 and its two-hundred day simple moving average is $11.93. The stock has a market cap of $933.19 million, a price-to-earnings ratio of -5.52 and a beta of 0.49. Phathom Pharmaceuticals has a fifty-two week low of $7.84 and a fifty-two week high of $18.31.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Phathom Pharmaceuticals by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock worth $1,378,000 after purchasing an additional 1,051 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Phathom Pharmaceuticals by 0.8% during the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after buying an additional 1,123 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Phathom Pharmaceuticals by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock worth $152,000 after acquiring an additional 1,364 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth $27,000. Finally, AQR Capital Management LLC grew its stake in shares of Phathom Pharmaceuticals by 3.5% in the fourth quarter. AQR Capital Management LLC now owns 54,448 shares of the company’s stock worth $903,000 after acquiring an additional 1,819 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company 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.