Cantor Fitzgerald Begins Coverage on Phathom Pharmaceuticals (NASDAQ:PHAT)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set an "overweight" rating and a $23.00 price target on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 302.10% from the stock's current price.

PHAT has been the subject of a number of other reports. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, January 10th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Phathom Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.00.

Phathom Pharmaceuticals Trading Down 0.9 %

Phathom Pharmaceuticals stock traded down $0.05 during midday trading on Friday, reaching $5.72. The company's stock had a trading volume of 1,181,958 shares, compared to its average volume of 1,018,164. The stock has a market cap of $391.13 million, a PE ratio of -1.01 and a beta of 0.54. Phathom Pharmaceuticals has a 52 week low of $5.21 and a 52 week high of $19.71. The business has a 50-day moving average price of $7.02 and a 200-day moving average price of $11.85.

Insider Buying and Selling

In related news, insider Terrie Curran sold 19,109 shares of the firm'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 $125,928.31. Following the completion of the transaction, the insider now directly owns 360,465 shares of the company's stock, valued at $2,375,464.35. This trade represents a 5.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the sale, the chief operating officer now owns 233,390 shares in the company, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,987 shares of company stock worth $240,551 in the last ninety days. Company insiders own 24.10% of the company's stock.

Hedge Funds Weigh In On Phathom Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC increased its position in Phathom Pharmaceuticals by 112.7% during the 3rd quarter. Jennison Associates LLC now owns 5,866,389 shares of the company's stock valued at $106,064,000 after purchasing an additional 3,108,810 shares during the period. Wasatch Advisors LP boosted its stake in shares of Phathom Pharmaceuticals by 531.3% in the 4th quarter. Wasatch Advisors LP now owns 1,558,928 shares of the company's stock valued at $12,658,000 after purchasing an additional 1,311,986 shares during the last quarter. FMR LLC increased its position in shares of Phathom Pharmaceuticals by 49,000.7% during the third quarter. FMR LLC now owns 1,304,114 shares of the company's stock worth $23,578,000 after buying an additional 1,301,458 shares during the period. Checkpoint Capital L.P. raised its stake in Phathom Pharmaceuticals by 71.9% during the third quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company's stock worth $27,198,000 after buying an additional 629,307 shares during the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in Phathom Pharmaceuticals by 50.4% in the third quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company's stock valued at $30,735,000 after buying an additional 569,829 shares during the period. 99.01% of the stock is currently owned by 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.