The Goldman Sachs Group Issues Pessimistic Forecast for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target decreased by stock analysts at The Goldman Sachs Group from $12.00 to $10.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 148.14% from the stock’s current price.

A number of other equities analysts also recently issued reports on PHAT. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, April 9th. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Guggenheim reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. Finally, Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $21.83.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $4.03 on Thursday. Phathom Pharmaceuticals has a one year low of $3.81 and a one year high of $19.71. The business has a fifty day moving average of $5.30 and a 200 day moving average of $8.67. The firm has a market capitalization of $280.64 million, a P/E ratio of -0.71 and a beta of 0.35.

Insider Activity

In other news, CFO Molly Henderson sold 6,583 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the sale, the chief financial officer now owns 93,546 shares in the company, valued at approximately $616,468.14. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Azmi Nabulsi sold 7,886 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the transaction, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,256 shares of company stock valued at $238,014. 24.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Phathom Pharmaceuticals by 797.2% in the first quarter. GAMMA Investing LLC now owns 4,558 shares of the company’s stock worth $29,000 after purchasing an additional 4,050 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of Phathom Pharmaceuticals by 11.2% in the 1st quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock valued at $187,000 after buying an additional 3,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Phathom Pharmaceuticals by 20.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after purchasing an additional 19,778 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Phathom Pharmaceuticals during the 4th quarter worth $1,086,000. Finally, Two Sigma Investments LP grew its stake in shares of Phathom Pharmaceuticals by 215.4% during the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after acquiring an additional 331,760 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, 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.