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

HC Wainwright restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Thursday,Benzinga reports. The firm currently has a $28.00 price objective on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Wednesday.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $7.89 on Thursday. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $19.71. The firm has a market cap of $539.49 million, a price-to-earnings ratio of -1.39 and a beta of 0.56. The company has a 50-day moving average of $12.90 and a 200 day moving average of $13.16.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of PHAT. Huntington National Bank raised its holdings in Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after acquiring an additional 564 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Phathom Pharmaceuticals by 41.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares during the period. US Bancorp DE increased its stake in Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Phathom Pharmaceuticals by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after acquiring an additional 1,339 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Phathom Pharmaceuticals by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock valued at $208,000 after buying an additional 2,172 shares during the period. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.