Phathom Pharmaceuticals (NASDAQ:PHAT) Earns Buy Rating from HC Wainwright

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $28.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 453.36% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $23.00.

Phathom Pharmaceuticals Price Performance

PHAT opened at $5.06 on Friday. The company has a market capitalization of $345.99 million, a price-to-earnings ratio of -0.89 and a beta of 0.63. The business’s 50-day moving average price is $6.35 and its two-hundred day moving average price is $11.23. Phathom Pharmaceuticals has a 1 year low of $5.02 and a 1 year high of $19.71.

Insiders Place Their Bets

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 19,109 shares of the business’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 transaction of $125,928.31. Following the transaction, the insider now owns 360,465 shares of the company’s stock, valued at $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Karbe acquired 12,500 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $7.93 per share, with a total value of $99,125.00. Following the completion of the transaction, the director now owns 57,000 shares of the company’s stock, valued at approximately $452,010. The trade was a 28.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its stake in shares of Phathom Pharmaceuticals by 62.2% during the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after buying an additional 564 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $74,000. Teacher Retirement System of Texas acquired a new stake in Phathom Pharmaceuticals during the fourth quarter worth approximately $90,000. Rafferty Asset Management LLC bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $90,000. Finally, US Bancorp DE boosted its holdings in shares of Phathom Pharmaceuticals by 28.6% during the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after acquiring an additional 1,166 shares during the period. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.