Phathom Pharmaceuticals (NASDAQ:PHAT) Earns "Buy" Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT - Free Report) in a research note released on Wednesday,Benzinga reports.

PHAT has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and an average price target of $22.17.

Phathom Pharmaceuticals Stock Down 0.9 %

Shares of PHAT stock traded down $0.04 on Wednesday, reaching $4.84. The company had a trading volume of 305,067 shares, compared to its average volume of 1,003,793. The business's 50-day moving average is $5.69 and its 200 day moving average is $9.61. The stock has a market capitalization of $336.83 million, a PE ratio of -0.86 and a beta of 0.35. Phathom Pharmaceuticals has a one year low of $4.07 and a one year high of $19.71.

Insider Activity at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 19,109 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $125,928.31. Following the transaction, the insider now directly owns 360,465 shares of the company's stock, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Molly Henderson sold 6,583 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the transaction, the chief financial officer now owns 93,546 shares in the company, valued at approximately $616,468.14. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,578 shares of company stock worth $221,279 in the last quarter. Company insiders own 24.10% of the company's stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at about $74,000. Teacher Retirement System of Texas acquired a new position in Phathom Pharmaceuticals during the 4th quarter valued at about $90,000. Rafferty Asset Management LLC bought a new stake in Phathom Pharmaceuticals during the 4th quarter worth approximately $90,000. Versor Investments LP purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at about $101,000. Finally, Virtu Financial LLC bought a new position in shares of Phathom Pharmaceuticals during the 4th quarter worth approximately $109,000. 99.01% of the stock is owned by institutional investors and hedge funds.

About Phathom Pharmaceuticals

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