Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $22.17 Consensus Target Price from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given an average rating of “Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.17.

A number of research firms have recently issued reports on PHAT. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, March 6th. Finally, Guggenheim set a $18.00 price objective on Phathom Pharmaceuticals in a research report on Friday, March 7th.

Phathom Pharmaceuticals Trading Up 4.5 %

PHAT stock opened at $4.41 on Monday. Phathom Pharmaceuticals has a 1-year low of $4.07 and a 1-year high of $19.71. The stock has a market cap of $307.10 million, a price-to-earnings ratio of -0.78 and a beta of 0.63. The company’s 50 day moving average is $6.02 and its 200 day moving average is $10.94.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 6,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at $616,468.14. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Azmi Nabulsi sold 7,886 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 transaction of $51,968.74. Following the sale, the chief operating officer now owns 233,390 shares of the company’s stock, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 bought a new stake in Phathom Pharmaceuticals during the fourth quarter valued at approximately $1,086,000. Two Sigma Investments LP increased its holdings in Phathom Pharmaceuticals by 215.4% during the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after buying an additional 331,760 shares during the last quarter. Tang Capital Management LLC purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth $4,060,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at $90,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.