Phathom Pharmaceuticals' (PHAT) Buy Rating Reaffirmed at Needham & Company LLC

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They currently have a $28.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a "strong-buy" rating in a report on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on Phathom Pharmaceuticals from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $21.83.

Phathom Pharmaceuticals Stock Down 0.2 %

NASDAQ PHAT traded down $0.01 during trading on Monday, hitting $4.11. 874,202 shares of the stock traded hands, compared to its average volume of 1,021,539. The company has a market capitalization of $286.21 million, a P/E ratio of -0.72 and a beta of 0.35. Phathom Pharmaceuticals has a 12-month low of $3.81 and a 12-month high of $19.71. The firm has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $8.31.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its holdings in shares of Phathom Pharmaceuticals by 531.3% in the fourth quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock worth $12,658,000 after purchasing an additional 1,311,986 shares during the last quarter. Jennison Associates LLC grew its stake in Phathom Pharmaceuticals by 20.4% in the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock worth $57,348,000 after acquiring an additional 1,196,118 shares in the last quarter. Tang Capital Management LLC purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth approximately $4,060,000. Raymond James Financial Inc. bought a new stake in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $3,701,000. Finally, Trexquant Investment LP purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $3,075,000. Hedge funds and other institutional investors own 99.01% of the company's stock.

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.