Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Average Rating of "Buy" by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT - Get Free Report) have been assigned a consensus rating of "Buy" from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.17.

A number of analysts have weighed in on PHAT shares. The Goldman Sachs Group decreased their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Craig Hallum reissued a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Guggenheim restated a "buy" rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th.

Insider Transactions at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi sold 7,886 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the sale, the chief operating officer now directly owns 233,390 shares in the company, valued at approximately $1,538,040.10. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrie Curran sold 19,109 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $125,928.31. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 37,256 shares of company stock valued at $238,014 in the last quarter. 24.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Phathom Pharmaceuticals

Several large investors have recently modified their holdings of PHAT. Jennison Associates LLC grew its holdings in Phathom Pharmaceuticals by 20.4% during the 4th quarter. Jennison Associates LLC now owns 7,062,507 shares of the company's stock valued at $57,348,000 after buying an additional 1,196,118 shares during the last quarter. State Street Corp boosted its stake in shares of Phathom Pharmaceuticals by 17.5% during the third quarter. State Street Corp now owns 922,788 shares of the company's stock valued at $16,684,000 after acquiring an additional 137,539 shares during the last quarter. FMR LLC raised its stake in Phathom Pharmaceuticals by 49,000.7% in the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company's stock valued at $23,578,000 after purchasing an additional 1,301,458 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Phathom Pharmaceuticals in the 3rd quarter valued at about $7,952,000. Finally, Raymond James Financial Inc. purchased a new position in Phathom Pharmaceuticals in the 4th quarter valued at about $3,701,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

Phathom Pharmaceuticals Stock Performance

NASDAQ PHAT traded down $0.19 during trading on Friday, reaching $4.06. The company's stock had a trading volume of 419,112 shares, compared to its average volume of 1,004,339. Phathom Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $19.71. The firm has a market cap of $282.45 million, a price-to-earnings ratio of -0.72 and a beta of 0.35. The business's fifty day moving average price is $5.57 and its 200-day moving average price is $9.38.

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.