Phathom Pharmaceuticals (NASDAQ:PHAT) Given New $12.00 Price Target at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT - Get Free Report) had its price target dropped by stock analysts at The Goldman Sachs Group from $18.00 to $12.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective points to a potential upside of 172.11% from the company's current price.

Several other equities research analysts have also issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Guggenheim set a $18.00 target price on Phathom Pharmaceuticals in a research report on Friday, March 7th. Craig Hallum reaffirmed a "buy" rating on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a "strong-buy" rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $22.17.

Phathom Pharmaceuticals Stock Up 4.5 %

NASDAQ PHAT traded up $0.19 on Monday, reaching $4.41. The company had a trading volume of 1,235,717 shares, compared to its average volume of 950,042. Phathom Pharmaceuticals has a 52-week low of $4.08 and a 52-week high of $19.71. The stock has a market capitalization of $301.54 million, a P/E ratio of -0.78 and a beta of 0.63. The company's fifty day moving average is $6.02 and its 200 day moving average is $10.94.

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Insider Transactions at Phathom Pharmaceuticals

In other news, COO Azmi Nabulsi sold 7,886 shares of the 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 completion of the transaction, the chief operating officer now owns 233,390 shares in the company, valued at approximately $1,538,040.10. This represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Molly Henderson sold 6,583 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the completion of the transaction, the chief financial officer now owns 93,546 shares of the company's stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,987 shares of company stock worth $240,551. 24.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted 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 purchasing an additional 1,196,118 shares during the period. Vanguard Group Inc. boosted its stake in Phathom Pharmaceuticals by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 2,779,561 shares of the company's stock worth $22,570,000 after purchasing an additional 83,238 shares during the period. Portolan Capital Management LLC boosted its stake in Phathom Pharmaceuticals by 50.4% in the 3rd quarter. Portolan Capital Management LLC now owns 1,699,918 shares of the company's stock worth $30,735,000 after purchasing an additional 569,829 shares during the period. Wasatch Advisors LP boosted its stake in Phathom Pharmaceuticals by 531.3% in the 4th 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 period. Finally, Checkpoint Capital L.P. boosted its stake in Phathom Pharmaceuticals by 71.9% in the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company's stock worth $27,198,000 after purchasing an additional 629,307 shares during the period. Institutional investors own 99.01% of the company's stock.

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.