Phathom Pharmaceuticals’ (PHAT) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report sent to investors on Wednesday morning,Benzinga reports.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group cut their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Stock Down 2.6 %

Shares of Phathom Pharmaceuticals stock opened at $4.88 on Wednesday. Phathom Pharmaceuticals has a 52 week low of $4.07 and a 52 week high of $19.71. The firm’s 50 day moving average is $5.69 and its two-hundred day moving average is $9.74. The firm has a market capitalization of $339.83 million, a P/E ratio of -0.86 and a beta of 0.35.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 19,109 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $125,928.31. Following the transaction, the insider now directly owns 360,465 shares in the company, valued at approximately $2,375,464.35. This trade represents a 5.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the sale, the chief operating officer now owns 233,390 shares of the company’s stock, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,578 shares of company stock valued at $221,279 in the last ninety days. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Several hedge funds have recently made changes to their positions in PHAT. Kera Capital Partners Inc. raised its holdings in Phathom Pharmaceuticals by 11.2% during the first quarter. Kera Capital Partners Inc. now owns 29,849 shares of the company’s stock worth $187,000 after purchasing an additional 3,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Phathom Pharmaceuticals by 20.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after purchasing an additional 19,778 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $1,086,000. Two Sigma Investments LP raised its stake in shares of Phathom Pharmaceuticals by 215.4% during the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after buying an additional 331,760 shares in the last quarter. Finally, Tang Capital Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter valued at approximately $4,060,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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.