Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $21.00.

A number of equities research analysts recently weighed in on the company. HC Wainwright raised their price objective on Phathom Pharmaceuticals from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Barclays began coverage on shares of Phathom Pharmaceuticals in a research note on Monday, December 8th. They set an “equal weight” rating and a $16.00 price objective for the company. Craig Hallum restated a “buy” rating and issued a $22.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, October 31st. Wall Street Zen raised Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th.

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT opened at $15.24 on Wednesday. The firm has a 50-day simple moving average of $14.00 and a 200-day simple moving average of $11.46. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $16.45. The firm has a market cap of $1.08 billion, a P/E ratio of -3.99 and a beta of 0.43.

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

Institutional Trading of Phathom Pharmaceuticals

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

About Phathom Pharmaceuticals

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.