HC Wainwright Reaffirms Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $26.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 149.28% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, February 26th. Guggenheim increased their target price 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Tuesday, April 21st. Finally, Barclays upgraded shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $18.00 in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT opened at $10.43 on Wednesday. Phathom Pharmaceuticals has a fifty-two week low of $7.61 and a fifty-two week high of $18.31. The company has a market capitalization of $831.90 million, a price-to-earnings ratio of -4.92 and a beta of 0.50. The firm has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $12.80.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Phathom Pharmaceuticals by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 124,018 shares of the company’s stock valued at $1,378,000 after buying an additional 1,051 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Phathom Pharmaceuticals by 0.8% in the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after buying an additional 1,123 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Phathom Pharmaceuticals by 9.4% in 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $27,000. Finally, AQR Capital Management LLC increased its stake in shares of Phathom Pharmaceuticals by 3.5% during the 4th quarter. AQR Capital Management LLC now owns 54,448 shares of the company’s stock worth $903,000 after purchasing an additional 1,819 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.