Phathom Pharmaceuticals (NASDAQ:PHAT) Trading Up 7.7% – Time to Buy?

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) shot up 7.7% during mid-day trading on Wednesday . The company traded as high as $17.66 and last traded at $17.6350. 256,433 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 506,404 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

PHAT has been the subject of a number of research analyst reports. HC Wainwright lifted their price objective on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays started coverage on Phathom Pharmaceuticals in a research report on Monday, December 8th. They set an “equal weight” rating and a $16.00 target price for the company. Wall Street Zen raised Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Raymond James Financial began coverage on Phathom Pharmaceuticals in a research note on Thursday, December 11th. They issued a “strong-buy” rating and a $28.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Phathom Pharmaceuticals Price Performance

The stock has a 50-day simple moving average of $15.17 and a 200-day simple moving average of $12.33. The stock has a market cap of $1.25 billion, a P/E ratio of -4.60 and a beta of 0.48.

Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its earnings results on Thursday, October 30th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The company had revenue of $49.50 million during the quarter, compared to the consensus estimate of $47.03 million. As a group, sell-side analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.78 earnings per share for the current year.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of PHAT. Jones Financial Companies Lllp increased its holdings in Phathom Pharmaceuticals by 442.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock worth $30,000 after purchasing an additional 2,058 shares in the last quarter. Raymond James Financial Inc. bought a new position in Phathom Pharmaceuticals in the 2nd quarter valued at approximately $30,000. Ameritas Investment Partners Inc. grew its holdings in Phathom Pharmaceuticals by 39.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock worth $41,000 after acquiring an additional 1,216 shares during the last quarter. BNP Paribas Financial Markets increased its position in Phathom Pharmaceuticals by 71.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock valued at $49,000 after acquiring an additional 2,122 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Phathom Pharmaceuticals by 58.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after acquiring an additional 2,102 shares during the last quarter. Institutional investors 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.