Phathom Pharmaceuticals (NASDAQ:PHAT) Given New $10.00 Price Target at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) had its price target lowered by equities researchers at The Goldman Sachs Group from $12.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 150.00% from the company's current price.

Several other analysts also recently weighed in on the company. Guggenheim reiterated a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Wednesday, April 9th. Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, February 25th. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Finally, Craig Hallum restated a "buy" rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $21.83.

Phathom Pharmaceuticals Price Performance

Shares of PHAT traded up $0.04 during mid-day trading on Thursday, reaching $4.00. 482,626 shares of the company's stock traded hands, compared to its average volume of 1,016,446. The stock's 50-day moving average is $5.24 and its two-hundred day moving average is $8.43. Phathom Pharmaceuticals has a 12 month low of $3.81 and a 12 month high of $19.71. The stock has a market cap of $278.55 million, a P/E ratio of -0.70 and a beta of 0.35.

Institutional Trading of Phathom Pharmaceuticals

A number of institutional investors have recently modified their holdings of PHAT. GAMMA Investing LLC raised its stake in shares of Phathom Pharmaceuticals by 797.2% during the 1st quarter. GAMMA Investing LLC now owns 4,558 shares of the company's stock worth $29,000 after acquiring an additional 4,050 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Phathom Pharmaceuticals during the fourth quarter worth $74,000. Teacher Retirement System of Texas purchased a new stake in shares of Phathom Pharmaceuticals during the 4th quarter valued at $90,000. Rafferty Asset Management LLC acquired a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth $90,000. Finally, Versor Investments LP purchased a new position in Phathom Pharmaceuticals during the 4th quarter worth $101,000. 99.01% of the stock is currently owned by institutional investors.

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.