Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) shot up 6.8% during trading on Friday . The stock traded as high as $17.45 and last traded at $17.35. 158,604 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 802,299 shares. The stock had previously closed at $16.24.
Analysts Set New Price Targets
A number of research firms have recently weighed in on PHAT. Needham & Company LLC reissued a "buy" rating and issued a $26.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, September 13th. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Monday, August 12th. Finally, The Goldman Sachs Group raised their price target on shares of Phathom Pharmaceuticals from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th.
Check Out Our Latest Research Report on PHAT
Phathom Pharmaceuticals Stock Down 1.0 %
The firm has a 50 day moving average price of $16.14 and a two-hundred day moving average price of $12.53.
Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($1.35) EPS for the quarter, beating analysts' consensus estimates of ($1.39) by $0.04. The business had revenue of $7.32 million during the quarter, compared to analysts' expectations of $5.65 million. Sell-side analysts anticipate that Phathom Pharmaceuticals, Inc. will post -6.03 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Phathom Pharmaceuticals
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PHAT. Wellington Management Group LLP increased its holdings in Phathom Pharmaceuticals by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 154,391 shares of the company's stock worth $1,410,000 after purchasing an additional 54,581 shares during the last quarter. Medicxi Ventures Management Jersey Ltd raised its holdings in Phathom Pharmaceuticals by 98.5% in the first quarter. Medicxi Ventures Management Jersey Ltd now owns 7,464,572 shares of the company's stock valued at $79,274,000 after acquiring an additional 3,703,703 shares in the last quarter. Klingman & Associates LLC bought a new position in Phathom Pharmaceuticals during the 1st quarter valued at $110,000. Jennison Associates LLC acquired a new position in Phathom Pharmaceuticals during the 1st quarter worth $17,499,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Phathom Pharmaceuticals in the 1st quarter worth about $119,000. Hedge funds and other institutional investors own 99.01% of the company's stock.
About Phathom Pharmaceuticals
(
Get Free Report)
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.
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