HC Wainwright Reaffirms Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $26.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 149.28% from the stock’s current price.

PHAT has been the subject of a number of other reports. Guggenheim raised their price objective on shares of Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st. Barclays upgraded shares of Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. Finally, Stifel Nicolaus set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.50.

Phathom Pharmaceuticals Price Performance

Shares of PHAT opened at $10.43 on Wednesday. The firm has a 50 day simple moving average of $11.49 and a 200-day simple moving average of $12.80. Phathom Pharmaceuticals has a 1-year low of $7.61 and a 1-year high of $18.31. The stock has a market cap of $831.90 million, a price-to-earnings ratio of -4.92 and a beta of 0.50.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in PHAT. AQR Capital Management LLC lifted its holdings in Phathom Pharmaceuticals by 508.2% in the 1st quarter. AQR Capital Management LLC now owns 107,399 shares of the company’s stock worth $673,000 after buying an additional 89,741 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Phathom Pharmaceuticals by 0.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock worth $1,328,000 after buying an additional 1,123 shares in the last quarter. Rhumbline Advisers lifted its holdings in Phathom Pharmaceuticals by 13.8% in the 2nd quarter. Rhumbline Advisers now owns 64,557 shares of the company’s stock worth $619,000 after buying an additional 7,818 shares in the last quarter. Invesco Ltd. lifted its holdings in Phathom Pharmaceuticals by 13.4% in the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after buying an additional 489,260 shares in the last quarter. Finally, Nebula Research & Development LLC lifted its holdings in Phathom Pharmaceuticals by 31.6% in the 2nd quarter. Nebula Research & Development LLC now owns 37,937 shares of the company’s stock worth $364,000 after buying an additional 9,116 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals is a clinical?stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.

The company’s lead asset is vonoprazan, a potassium?competitive acid blocker (P-CAB) licensed for use in the United States.