Analysts Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Price Target at $21.25

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.25.

Several brokerages have issued reports on PHAT. Craig Hallum restated a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Friday, July 31st. Barclays decreased their target price on Phathom Pharmaceuticals from $18.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Needham & Company LLC dropped their price target on Phathom Pharmaceuticals from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Friday, July 17th. Finally, Guggenheim decreased their price objective on shares of Phathom Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Friday, July 31st.

Phathom Pharmaceuticals Stock Performance

Shares of PHAT stock opened at $7.75 on Friday. Phathom Pharmaceuticals has a one year low of $7.59 and a one year high of $18.31. The company’s 50-day simple moving average is $9.56 and its 200-day simple moving average is $10.65. The stock has a market capitalization of $626.98 million, a price-to-earnings ratio of -6.05 and a beta of 0.51.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PHAT. Opaleye Management Inc. bought a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter valued at about $2,014,000. Engineers Gate Manager LP lifted its holdings in Phathom Pharmaceuticals by 60.1% in the second quarter. Engineers Gate Manager LP now owns 118,257 shares of the company’s stock worth $1,283,000 after acquiring an additional 44,409 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Phathom Pharmaceuticals by 11.5% in the second quarter. NewEdge Advisors LLC now owns 203,962 shares of the company’s stock worth $2,213,000 after acquiring an additional 20,962 shares during the last quarter. Pale Fire Capital SE acquired a new position in Phathom Pharmaceuticals in the second quarter valued at approximately $539,000. Finally, Hsbc Holdings PLC acquired a new position in Phathom Pharmaceuticals in the second quarter valued at approximately $7,702,000. 99.01% of the stock is currently owned by institutional investors.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for gastrointestinal diseases. The company’s primary product is Voquezna (vonoprazan), a potassium-competitive acid blocker designed to suppress gastric acid production through a mechanism distinct from traditional proton pump inhibitors.

In the United States, Voquezna is approved for use in combination regimens to eradicate Helicobacter pylori (H. pylori) infection in adults.