Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) from a sell rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $14.01 on Friday. The firm has a market cap of $993.87 million, a P/E ratio of -2.96 and a beta of 0.43. Phathom Pharmaceuticals has a 1 year low of $2.21 and a 1 year high of $19.50. The firm’s 50 day moving average price is $11.78 and its 200 day moving average price is $8.42.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. increased its position in Phathom Pharmaceuticals by 23.3% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after purchasing an additional 2,357,210 shares in the last quarter. 683 Capital Management LLC grew its stake in Phathom Pharmaceuticals by 45.7% during the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after buying an additional 660,000 shares during the period. Moore Capital Management LP acquired a new stake in shares of Phathom Pharmaceuticals in the second quarter worth $5,754,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Phathom Pharmaceuticals in the first quarter worth $3,738,000. Finally, Invesco Ltd. raised its stake in shares of Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after acquiring an additional 489,260 shares during the period. 99.01% of the stock is owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.