Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Down 6.8% – Should You Sell?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT)’s share price fell 6.8% during trading on Tuesday . The company traded as low as $12.66 and last traded at $12.5530. 407,155 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,119,369 shares. The stock had previously closed at $13.47.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, January 14th. Barclays raised Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday. Guggenheim raised their price objective on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Finally, Stifel Nicolaus set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Phathom Pharmaceuticals Price Performance

The firm has a market cap of $965.87 million, a P/E ratio of -3.97 and a beta of 0.61. The company’s 50 day moving average is $11.58 and its two-hundred day moving average is $13.43.

Phathom Pharmaceuticals (NASDAQ:PHAT) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The firm had revenue of $57.58 million for the quarter, compared to the consensus estimate of $57.44 million. Research analysts predict that Phathom Pharmaceuticals, Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Phathom Pharmaceuticals by 125.8% during the third quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after buying an additional 2,830,954 shares in the last quarter. Invesco Ltd. raised its stake in shares of Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock valued at $39,703,000 after buying an additional 489,260 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after acquiring an additional 428,261 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Phathom Pharmaceuticals by 5.2% during the 3rd quarter. Wasatch Advisors LP now owns 1,537,218 shares of the company’s stock worth $18,093,000 after acquiring an additional 75,323 shares during the period. Finally, Catalys Pacific LLC boosted its position in shares of Phathom Pharmaceuticals by 22.4% during the 4th quarter. Catalys Pacific LLC now owns 1,429,014 shares of the company’s stock valued at $23,707,000 after acquiring an additional 261,900 shares in the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.