Phathom Pharmaceuticals (NASDAQ:PHAT) Shares Up 7.7% – Still a Buy?

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shares rose 7.7% on Wednesday . The stock traded as high as $17.66 and last traded at $17.6350. Approximately 256,433 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 506,404 shares. The stock had previously closed at $16.37.

Wall Street Analyst Weigh In

PHAT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Raymond James Financial began coverage on Phathom Pharmaceuticals in a research report on Thursday, December 11th. They set a “strong-buy” rating and a $28.00 price target on the stock. Guggenheim reiterated a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Barclays started coverage on shares of Phathom Pharmaceuticals in a report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Phathom Pharmaceuticals Stock Up 7.2%

The stock has a fifty day moving average of $15.17 and a 200-day moving average of $12.33. The firm has a market capitalization of $1.25 billion, a P/E ratio of -4.60 and a beta of 0.48.

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

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position 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 last quarter. Ameritas Investment Partners Inc. raised its position 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 acquiring an additional 1,216 shares in the last quarter. The Manufacturers Life Insurance Company raised 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 worth $152,000 after acquiring an additional 1,364 shares in the last quarter. Jones Financial Companies Lllp lifted its stake 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 acquiring an additional 2,058 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Phathom Pharmaceuticals by 58.3% in the 2nd 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 period. Institutional investors own 99.01% of the company’s stock.

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.