Guggenheim Reiterates “Buy” Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by research analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports.

Several other research firms have also recently weighed in on PHAT. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.17.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock opened at $5.01 on Wednesday. The firm’s 50 day moving average price is $5.73 and its 200-day moving average price is $9.84. Phathom Pharmaceuticals has a 1 year low of $4.07 and a 1 year high of $19.71. The stock has a market cap of $348.88 million, a P/E ratio of -0.88 and a beta of 0.35.

Insider Buying and Selling

In related news, COO Azmi Nabulsi sold 7,886 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 $51,968.74. Following the transaction, the chief operating officer now directly owns 233,390 shares of the company’s stock, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the sale, the chief financial officer now owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,578 shares of company stock valued at $221,279 over the last quarter. 24.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $74,000. Teacher Retirement System of Texas purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $90,000. Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $90,000. Versor Investments LP bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $101,000. Finally, Virtu Financial LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at approximately $109,000. 99.01% of the stock is owned by 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.