Analysts Set Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Price Target at $22.17

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $22.17.

A number of brokerages recently issued reports on PHAT. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim set a $18.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group decreased their target price on shares of Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a research report on Monday, March 10th.

Insider Transactions at Phathom Pharmaceuticals

In other news, CFO Molly Henderson sold 6,583 shares of the firm’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 transaction of $43,381.97. Following the completion of the sale, the chief financial officer now owns 93,546 shares of the company’s stock, valued at $616,468.14. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Terrie Curran sold 19,109 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. This trade represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders 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.

Hedge Funds Weigh In On Phathom Pharmaceuticals

Large investors have recently modified their holdings of the company. Huntington National Bank lifted its holdings in shares of Phathom Pharmaceuticals by 62.2% in the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after purchasing an additional 564 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $74,000. Teacher Retirement System of Texas bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $90,000. Rafferty Asset Management LLC bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter worth $90,000. Finally, US Bancorp DE lifted 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 in the last quarter. 99.01% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT opened at $4.41 on Monday. The company has a 50 day simple moving average of $6.02 and a 200 day simple moving average of $10.87. The firm has a market cap of $307.10 million, a PE ratio of -0.78 and a beta of 0.63. Phathom Pharmaceuticals has a 1 year low of $4.07 and a 1 year high of $19.71.

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.