Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded by Barclays to “Hold” Rating

Barclays upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other research firms have also recently commented on PHAT. HC Wainwright raised their target price on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Craig Hallum reissued a “buy” rating and issued a $22.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Guggenheim reissued a “buy” rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Phathom Pharmaceuticals Trading Up 2.4%

Shares of NASDAQ:PHAT opened at $14.55 on Monday. Phathom Pharmaceuticals has a 12-month low of $2.21 and a 12-month high of $16.26. The business has a 50 day moving average of $13.75 and a two-hundred day moving average of $11.11. The company has a market capitalization of $1.04 billion, a PE ratio of -3.81 and a beta of 0.43.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.15. The firm had revenue of $49.50 million for the quarter, compared to analysts’ expectations of $47.03 million. Equities research analysts predict that Phathom Pharmaceuticals will post -4.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of Phathom Pharmaceuticals by 0.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after purchasing an additional 1,123 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Phathom Pharmaceuticals by 39.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after buying an additional 1,216 shares during the period. The Manufacturers Life Insurance Company lifted its position in Phathom Pharmaceuticals by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock valued at $152,000 after buying an additional 1,364 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Phathom Pharmaceuticals by 442.6% during the third quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after buying an additional 2,058 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of Phathom Pharmaceuticals by 58.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after acquiring an additional 2,102 shares during the last quarter. 99.01% of the stock is currently 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.