Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $56.50 Consensus Target Price from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $56.50.

Several equities research analysts have recently commented on PHAT shares. Zacks Investment Research raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 3rd. The Goldman Sachs Group upgraded Phathom Pharmaceuticals from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $48.00 in a research note on Wednesday, May 12th.

In other news, major shareholder Pharmaceutical Co Ltd Takeda sold 14,632 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $38.28, for a total transaction of $560,112.96. Following the completion of the transaction, the insider now directly owns 1,080,843 shares in the company, valued at approximately $41,374,670.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Socks sold 26,040 shares of the stock in a transaction that occurred on Monday, June 28th. The shares were sold at an average price of $34.07, for a total value of $887,182.80. The disclosure for this sale can be found here. Insiders have sold a total of 223,996 shares of company stock valued at $7,893,813 over the last quarter. Corporate insiders own 39.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PHAT. BlackRock Inc. raised its holdings in Phathom Pharmaceuticals by 10.3% during the 4th quarter. BlackRock Inc. now owns 790,880 shares of the company’s stock valued at $26,273,000 after buying an additional 73,968 shares during the period. Wells Fargo & Company MN raised its holdings in Phathom Pharmaceuticals by 30.9% during the 4th quarter. Wells Fargo & Company MN now owns 11,289 shares of the company’s stock valued at $375,000 after buying an additional 2,662 shares during the period. Rhumbline Advisers raised its holdings in Phathom Pharmaceuticals by 11.7% during the 4th quarter. Rhumbline Advisers now owns 12,200 shares of the company’s stock valued at $405,000 after buying an additional 1,280 shares during the period. Citigroup Inc. raised its holdings in Phathom Pharmaceuticals by 194.6% during the 4th quarter. Citigroup Inc. now owns 3,294 shares of the company’s stock valued at $110,000 after buying an additional 2,176 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Phathom Pharmaceuticals during the 4th quarter valued at $208,000. Institutional investors own 77.06% of the company’s stock.

NASDAQ:PHAT traded down $0.60 during mid-day trading on Friday, reaching $32.89. The company’s stock had a trading volume of 464 shares, compared to its average volume of 119,984. Phathom Pharmaceuticals has a 12-month low of $30.70 and a 12-month high of $50.78. The firm’s fifty day simple moving average is $34.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.94 and a current ratio of 5.94.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its earnings results on Tuesday, May 11th. The company reported ($0.96) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.11) by $0.15. As a group, research analysts predict that Phathom Pharmaceuticals will post -3.65 earnings per share for the current year.

About Phathom Pharmaceuticals

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

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Analyst Recommendations for Phathom Pharmaceuticals (NASDAQ:PHAT)

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