Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives $22.17 Consensus Target Price from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.17.

Several equities research analysts recently issued reports on the company. Guggenheim set a $18.00 price objective on Phathom Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. The Goldman Sachs Group decreased their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th.

Phathom Pharmaceuticals Stock Up 4.4 %

Shares of NASDAQ PHAT opened at $5.00 on Monday. The firm has a market cap of $341.89 million, a price-to-earnings ratio of -0.88 and a beta of 0.63. The company’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $11.05. Phathom Pharmaceuticals has a 52-week low of $4.33 and a 52-week high of $19.71.

Insider Buying and Selling at Phathom Pharmaceuticals

In other news, Director Frank Karbe purchased 12,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the acquisition, the director now directly owns 57,000 shares of the company’s stock, valued at approximately $452,010. This represents a 28.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Molly Henderson sold 6,583 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares in the company, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,987 shares of company stock worth $240,551 in the last three months. 24.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock valued at $57,348,000 after buying an additional 1,196,118 shares during the period. Vanguard Group Inc. increased its position in shares of Phathom Pharmaceuticals by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company’s stock valued at $22,570,000 after acquiring an additional 83,238 shares during the last quarter. Portolan Capital Management LLC raised its stake in shares of Phathom Pharmaceuticals by 50.4% in the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock valued at $30,735,000 after acquiring an additional 569,829 shares during the period. Wasatch Advisors LP lifted its holdings in shares of Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company’s stock worth $12,658,000 after acquiring an additional 1,311,986 shares during the last quarter. Finally, Checkpoint Capital L.P. boosted its position in shares of Phathom Pharmaceuticals by 71.9% during the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock worth $27,198,000 after purchasing an additional 629,307 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.