Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Lowered to $12.00 at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price decreased by The Goldman Sachs Group from $18.00 to $12.00 in a research note published on Monday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Thursday, March 6th. HC Wainwright reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday. Finally, Guggenheim set a $18.00 price target on Phathom Pharmaceuticals in a report on Friday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock opened at $4.40 on Monday. The business has a 50-day moving average of $6.28 and a 200 day moving average of $11.16. Phathom Pharmaceuticals has a 1-year low of $4.35 and a 1-year high of $19.71. The stock has a market capitalization of $300.86 million, a PE ratio of -0.77 and a beta of 0.63.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the transaction, the chief operating officer now owns 233,390 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, Director Frank Karbe bought 12,500 shares of the company’s stock in a transaction dated 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 acquisition, the director now owns 57,000 shares in the company, valued at approximately $452,010. This represents a 28.09 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 35,987 shares of company stock worth $240,551 over the last 90 days. 24.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Jennison Associates LLC increased its stake in shares of Phathom Pharmaceuticals by 112.7% during the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock valued at $106,064,000 after purchasing an additional 3,108,810 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company’s stock worth $12,658,000 after buying an additional 1,311,986 shares during the last quarter. FMR LLC increased its position in Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after buying an additional 1,301,458 shares in the last quarter. Checkpoint Capital L.P. raised its stake in Phathom Pharmaceuticals by 71.9% during the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock valued at $27,198,000 after buying an additional 629,307 shares during the last quarter. Finally, Portolan Capital Management LLC boosted its holdings in Phathom Pharmaceuticals by 50.4% in the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company’s stock worth $30,735,000 after acquiring an additional 569,829 shares in the last quarter. 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.