Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Receives Average Recommendation of “Moderate Buy” from Analysts

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $20.17.

Several research firms have commented on PHAT. Craig Hallum started coverage on shares of Phathom Pharmaceuticals in a report on Monday, March 13th. They issued a “buy” rating and a $21.00 price objective on the stock. Guggenheim cut their price objective on shares of Phathom Pharmaceuticals from $30.00 to $22.00 in a research report on Tuesday, January 10th. Needham & Company LLC cut their price objective on shares of Phathom Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, February 10th. Finally, BMO Capital Markets dropped their target price on shares of Phathom Pharmaceuticals from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, insider Terrie Curran sold 5,821 shares of Phathom Pharmaceuticals stock in a transaction on Friday, January 20th. The shares were sold at an average price of $8.20, for a total value of $47,732.20. Following the completion of the sale, the insider now directly owns 176,807 shares of the company’s stock, valued at $1,449,817.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Phathom Pharmaceuticals news, insider Terrie Curran sold 5,821 shares of Phathom Pharmaceuticals stock in a transaction on Friday, January 20th. The shares were sold at an average price of $8.20, for a total value of $47,732.20. Following the completion of the sale, the insider now directly owns 176,807 shares of the company’s stock, valued at $1,449,817.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Asit Parikh bought 5,000 shares of the firm’s stock in a transaction dated Monday, February 13th. The shares were acquired at an average cost of $7.73 per share, with a total value of $38,650.00. Following the completion of the transaction, the director now owns 22,500 shares of the company’s stock, valued at $173,925. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 9,289 shares of company stock valued at $77,329. Corporate insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in PHAT. Swiss National Bank boosted its holdings in Phathom Pharmaceuticals by 7.7% during the first quarter. Swiss National Bank now owns 33,400 shares of the company’s stock worth $455,000 after purchasing an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Phathom Pharmaceuticals by 1.7% during the first quarter. JPMorgan Chase & Co. now owns 175,562 shares of the company’s stock worth $2,389,000 after purchasing an additional 3,001 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Phathom Pharmaceuticals by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 61,288 shares of the company’s stock worth $834,000 after purchasing an additional 1,948 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Phathom Pharmaceuticals by 58.5% during the first quarter. MetLife Investment Management LLC now owns 12,302 shares of the company’s stock worth $167,000 after purchasing an additional 4,540 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Phathom Pharmaceuticals by 16.0% during the first quarter. Rhumbline Advisers now owns 19,968 shares of the company’s stock worth $272,000 after purchasing an additional 2,761 shares during the last quarter. 98.57% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Trading Down 3.2 %

Shares of PHAT opened at $6.60 on Friday. The company has a market cap of $277.00 million, a price-to-earnings ratio of -1.31 and a beta of 0.38. Phathom Pharmaceuticals has a 1-year low of $6.09 and a 1-year high of $16.07. The company’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $9.78.

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.