Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Upgraded by Leerink Partners

Phathom Pharmaceuticals (NASDAQ:PHAT) was upgraded by investment analysts at Leerink Partners to a “hold” rating in a research report issued on Wednesday, Zacks reports.

A number of other research analysts also recently weighed in on the stock. Barclays lowered their price objective on shares of Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. HC Wainwright reiterated a “buy” rating and set a $26.00 target price on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Craig Hallum reissued a “buy” rating and set a $20.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Friday, July 17th. Finally, Needham & Company LLC dropped their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.25.

Phathom Pharmaceuticals Stock Down 8.1%

Shares of NASDAQ PHAT opened at $8.67 on Wednesday. The firm’s 50-day moving average price is $9.97 and its 200-day moving average price is $10.81. Phathom Pharmaceuticals has a 52-week low of $8.21 and a 52-week high of $18.31. The company has a market cap of $701.40 million, a PE ratio of -6.77 and a beta of 0.51.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at $27,000. Kestra Advisory Services LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter worth $38,000. Summit Securities Group LLC bought a new position in Phathom Pharmaceuticals in the 1st quarter worth $34,000. Raymond James Financial Inc. purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter worth $30,000. Finally, State of Wyoming purchased a new stake in Phathom Pharmaceuticals in the 1st quarter worth $55,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.