Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $21.25.

Several analysts have recently commented on PHAT shares. Craig Hallum reiterated a “buy” rating and issued a $20.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, July 31st. Guggenheim cut their price target on Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st. HC Wainwright reissued a “buy” rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Needham & Company LLC reduced their price objective on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Leerink Partners initiated coverage on Phathom Pharmaceuticals in a research report on Wednesday, September 9th. They issued a “market perform” rating and a $10.00 price objective on the stock.

Phathom Pharmaceuticals Trading Up 1.7%

PHAT stock opened at $7.25 on Tuesday. Phathom Pharmaceuticals has a 12-month low of $6.52 and a 12-month high of $18.31. The firm has a 50 day moving average of $8.31 and a 200-day moving average of $10.23. The company has a market cap of $586.52 million, a price-to-earnings ratio of -5.66 and a beta of 0.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Carlyle Group Inc. acquired a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter worth about $37,940,000. Renaissance Technologies LLC purchased a new stake in shares of Phathom Pharmaceuticals during the first quarter worth about $3,397,000. SummitTX Capital L.P. grew its holdings in shares of Phathom Pharmaceuticals by 92.3% during the first quarter. SummitTX Capital L.P. now owns 995,885 shares of the company’s stock worth $11,064,000 after buying an additional 478,065 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Phathom Pharmaceuticals by 124.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 327,278 shares of the company’s stock worth $3,551,000 after buying an additional 181,346 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new position in shares of Phathom Pharmaceuticals in the second quarter valued at approximately $2,014,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s portfolio is centered on vonoprazan, a potassium-competitive acid blocker designed to suppress gastric acid production and provide an alternative to traditional proton pump inhibitors.

Phathom markets vonoprazan in the United States under the brand name Voquezna. The product is approved for the healing and maintenance of healing of erosive esophagitis, relief of associated heartburn, and treatment of heartburn related to non-erosive gastroesophageal reflux disease.