Phathom Pharmaceuticals (NASDAQ:PHAT) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a report released on Thursday,Benzinga reports. They currently have a $28.00 price objective on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a report on Wednesday.

Phathom Pharmaceuticals Trading Down 4.9 %

Shares of PHAT stock opened at $7.99 on Thursday. The firm’s fifty day moving average price is $13.09 and its two-hundred day moving average price is $13.16. Phathom Pharmaceuticals has a 1 year low of $6.07 and a 1 year high of $19.71.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Jennison Associates LLC grew its holdings in Phathom Pharmaceuticals by 112.7% during the third quarter. Jennison Associates LLC now owns 5,866,389 shares of the company’s stock worth $106,064,000 after purchasing an additional 3,108,810 shares during the period. FMR LLC boosted its stake in shares of Phathom Pharmaceuticals by 49,000.7% during the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock worth $23,578,000 after acquiring an additional 1,301,458 shares during the period. Checkpoint Capital L.P. increased its holdings in shares of Phathom Pharmaceuticals by 71.9% during the 3rd quarter. Checkpoint Capital L.P. now owns 1,504,307 shares of the company’s stock worth $27,198,000 after acquiring an additional 629,307 shares during the last quarter. Portolan Capital Management LLC raised 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 valued at $30,735,000 after acquiring an additional 569,829 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Phathom Pharmaceuticals in the 3rd quarter valued at $7,952,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.