Phathom Pharmaceuticals (NASDAQ:PHAT) Given New $22.00 Price Target at Guggenheim

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Rating) had its price objective lowered by Guggenheim from $30.00 to $22.00 in a research report report published on Tuesday morning, The Fly reports.

Several other equities analysts have also recently weighed in on PHAT. Needham & Company LLC lowered their price target on Phathom Pharmaceuticals from $38.00 to $25.00 and set a buy rating on the stock in a report on Wednesday, January 4th. BMO Capital Markets decreased their target price on Phathom Pharmaceuticals from $38.00 to $35.00 and set an outperform rating on the stock in a report on Wednesday, January 4th. Finally, Jefferies Financial Group started coverage on Phathom Pharmaceuticals in a report on Thursday, October 20th. They issued a buy rating and a $16.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $21.40.

Phathom Pharmaceuticals Price Performance

NASDAQ PHAT opened at $7.54 on Tuesday. The business’s fifty day moving average price is $10.11 and its 200-day moving average price is $9.82. The stock has a market capitalization of $313.82 million, a price-to-earnings ratio of -1.61 and a beta of 0.29. Phathom Pharmaceuticals has a 1-year low of $6.09 and a 1-year high of $19.95.

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The company reported ($1.32) earnings per share for the quarter. Equities research analysts anticipate that Phathom Pharmaceuticals will post -5.22 EPS for the current year.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in Phathom Pharmaceuticals in the 1st quarter worth $45,000. Quantbot Technologies LP increased its stake in Phathom Pharmaceuticals by 112.6% in the 2nd quarter. Quantbot Technologies LP now owns 5,527 shares of the company’s stock worth $46,000 after buying an additional 2,927 shares in the last quarter. Legal & General Group Plc increased its stake in Phathom Pharmaceuticals by 20.1% in the 2nd quarter. Legal & General Group Plc now owns 6,328 shares of the company’s stock worth $54,000 after buying an additional 1,061 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter worth $87,000. Finally, Credit Suisse AG purchased a new stake in Phathom Pharmaceuticals in the 2nd quarter worth $88,000. 98.57% of the stock is owned by institutional investors.

About Phathom Pharmaceuticals

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Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.