Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Has Average Price Target of $20.11

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $20.11.

Several equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, October 30th. Guggenheim dropped 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 report on Friday, July 31st. Craig Hallum reaffirmed a “buy” rating and set a $15.00 price target on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Thursday, October 15th. Finally, Leerink Partners initiated coverage on shares of Phathom Pharmaceuticals in a research report on Wednesday, September 9th. They issued a “market perform” rating and a $10.00 price objective for the company.

Phathom Pharmaceuticals Stock Down 1.0%

Phathom Pharmaceuticals stock opened at $5.68 on Friday. Phathom Pharmaceuticals has a 12-month low of $5.01 and a 12-month high of $18.31. The firm’s 50-day moving average is $7.46 and its two-hundred day moving average is $10.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new position in shares of Phathom Pharmaceuticals in the 3rd quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Phathom Pharmaceuticals during the third quarter worth approximately $30,000. Summit Securities Group LLC acquired a new position in shares of Phathom Pharmaceuticals during the first quarter valued at about $34,000. State of Wyoming bought a new stake in Phathom Pharmaceuticals in the first quarter valued at about $55,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Phathom Pharmaceuticals by 16.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 14,761 shares of the company’s stock worth $109,000 after acquiring an additional 2,068 shares in the last quarter. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc (NASDAQ: PHAT) is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s principal product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress stomach acid through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for the treatment of Helicobacter pylori infection in combination with antibiotics and for certain forms of gastroesophageal reflux disease (GERD), including erosive esophagitis and heartburn associated with non-erosive GERD.