HC Wainwright Reaffirms Buy Rating for Phathom Pharmaceuticals (NASDAQ:PHAT)

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report)'s stock had its "buy" rating restated by investment analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $28.00 price target on the stock. HC Wainwright's price target points to a potential upside of 484.55% from the company's previous close.

A number of other brokerages have also recently commented on PHAT. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $22.17.

Phathom Pharmaceuticals Stock Performance

PHAT stock traded up $0.39 during midday trading on Friday, hitting $4.79. 1,588,167 shares of the stock were exchanged, compared to its average volume of 939,457. The stock's 50-day moving average price is $6.28 and its 200-day moving average price is $11.16. The stock has a market cap of $327.53 million, a price-to-earnings ratio of -0.84 and a beta of 0.63. Phathom Pharmaceuticals has a fifty-two week low of $3.90 and a fifty-two week high of $19.71.

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Insiders Place Their Bets

In related news, insider Terrie Curran sold 19,109 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 360,465 shares in the company, valued at approximately $2,375,464.35. The trade was a 5.03 % 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 the SEC website. Also, Director Frank Karbe purchased 12,500 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the purchase, the director now owns 57,000 shares of the company's stock, valued at $452,010. This trade represents a 28.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 35,987 shares of company stock valued at $240,551 in the last quarter. 24.10% of the stock is currently owned by company insiders.

Institutional Trading of Phathom Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its holdings in Phathom Pharmaceuticals by 62.2% in the third quarter. Huntington National Bank now owns 1,471 shares of the company's stock valued at $27,000 after acquiring an additional 564 shares during the last quarter. US Bancorp DE raised its holdings in shares of Phathom Pharmaceuticals by 28.6% in the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company's stock worth $95,000 after purchasing an additional 1,166 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Phathom Pharmaceuticals by 18.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company's stock valued at $180,000 after purchasing an additional 3,408 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company's stock worth $116,000 after purchasing an additional 3,804 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Phathom Pharmaceuticals by 4.6% during the 4th quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company's stock worth $834,000 after purchasing an additional 4,557 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Company Profile

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.