Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded at Barclays

Phathom Pharmaceuticals (NASDAQ:PHAT) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a $18.00 price target on the stock, up from their prior price target of $16.00. Barclays‘s price target would indicate a potential upside of 66.82% from the stock’s previous close.

PHAT has been the topic of a number of other reports. Guggenheim lifted their price target on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Stifel Nicolaus set a $28.00 target price on Phathom Pharmaceuticals in a report on Thursday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Thursday, January 22nd. Finally, Raymond James Financial began coverage on shares of Phathom Pharmaceuticals in a report on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $22.50.

Phathom Pharmaceuticals Stock Up 3.1%

Shares of Phathom Pharmaceuticals stock opened at $10.79 on Friday. The firm has a market cap of $850.24 million, a price-to-earnings ratio of -3.53 and a beta of 0.51. Phathom Pharmaceuticals has a 52-week low of $2.21 and a 52-week high of $18.31. The company’s 50-day simple moving average is $12.15 and its 200-day simple moving average is $13.39.

Phathom Pharmaceuticals (NASDAQ:PHAT) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $57.58 million during the quarter, compared to analyst estimates of $57.44 million. Equities research analysts anticipate that Phathom Pharmaceuticals will post -4.78 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $27,000. Jones Financial Companies Lllp boosted its position in Phathom Pharmaceuticals by 442.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after purchasing an additional 2,058 shares during the period. Raymond James Financial Inc. acquired a new stake in Phathom Pharmaceuticals in the 2nd quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter valued at $38,000. Finally, Ameritas Investment Partners Inc. raised its position in Phathom Pharmaceuticals by 39.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,216 shares during the period. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

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.