Investment analysts at Craig Hallum began coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Get Rating) in a note issued to investors on Monday, The Fly reports. The firm set a “buy” rating and a $21.00 price target on the stock. Craig Hallum’s price objective indicates a potential upside of 194.94% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price objective on Phathom Pharmaceuticals from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, March 1st. Needham & Company LLC lowered their price objective on shares of Phathom Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, February 10th. Finally, Guggenheim lowered their price objective on shares of Phathom Pharmaceuticals from $30.00 to $22.00 in a research report on Tuesday, January 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phathom Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $20.17.
Phathom Pharmaceuticals Stock Performance
Shares of PHAT stock opened at $7.12 on Monday. The stock’s 50-day moving average is $9.27 and its two-hundred day moving average is $9.83. The firm has a market cap of $298.85 million, a price-to-earnings ratio of -1.41 and a beta of 0.38. Phathom Pharmaceuticals has a 1 year low of $6.09 and a 1 year high of $16.07.
Insider Transactions at Phathom Pharmaceuticals
Institutional Investors Weigh In On Phathom Pharmaceuticals
Several institutional investors have recently made changes to their positions in PHAT. Ensign Peak Advisors Inc increased its holdings in Phathom Pharmaceuticals by 51.7% in the second quarter. Ensign Peak Advisors Inc now owns 1,675,488 shares of the company’s stock valued at $14,140,000 after buying an additional 570,729 shares in the last quarter. Opaleye Management Inc. purchased a new stake in Phathom Pharmaceuticals during the fourth quarter worth $4,684,000. 683 Capital Management LLC boosted its position in Phathom Pharmaceuticals by 15.6% during the third quarter. 683 Capital Management LLC now owns 1,663,943 shares of the company’s stock worth $18,436,000 after purchasing an additional 223,943 shares in the last quarter. Western Standard LLC purchased a new stake in Phathom Pharmaceuticals during the second quarter worth $920,000. Finally, Walleye Capital LLC purchased a new stake in Phathom Pharmaceuticals during the second quarter worth $701,000. 98.57% of the stock is currently owned by hedge funds and other institutional investors.
Phathom Pharmaceuticals Company Profile
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.
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