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

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been given an average rating of “Buy” by the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $22.17.

Several equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Monday. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. Guggenheim set a $18.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th.

Phathom Pharmaceuticals Trading Up 4.4 %

Shares of PHAT opened at $5.00 on Monday. Phathom Pharmaceuticals has a 12 month low of $4.33 and a 12 month high of $19.71. The stock has a fifty day moving average price of $6.15 and a 200-day moving average price of $11.05. The firm has a market cap of $341.89 million, a PE ratio of -0.88 and a beta of 0.63.

Insider Activity

In related news, Director Frank Karbe acquired 12,500 shares of the stock in a transaction on Friday, December 13th. The shares were acquired at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the transaction, the director now owns 57,000 shares in the company, valued at approximately $452,010. This trade represents a 28.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrie Curran sold 19,109 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 $125,928.31. Following the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,987 shares of company stock valued at $240,551 in the last ninety days. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in shares of Phathom Pharmaceuticals by 20.4% in the fourth quarter. Jennison Associates LLC now owns 7,062,507 shares of the company’s stock worth $57,348,000 after acquiring an additional 1,196,118 shares during the period. State Street Corp raised its holdings in Phathom Pharmaceuticals by 17.5% in the 3rd quarter. State Street Corp now owns 922,788 shares of the company’s stock worth $16,684,000 after purchasing an additional 137,539 shares during the period. Eagle Asset Management Inc. boosted its position in Phathom Pharmaceuticals by 25.9% during the third quarter. Eagle Asset Management Inc. now owns 455,196 shares of the company’s stock worth $7,675,000 after purchasing an additional 93,733 shares in the last quarter. FMR LLC grew its holdings in Phathom Pharmaceuticals by 49,000.7% in the third quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after purchasing an additional 1,301,458 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Phathom Pharmaceuticals in the third quarter valued at approximately $7,952,000. 99.01% of the stock is 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.