Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target Cut to $12.00 by Analysts at The Goldman Sachs Group

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price reduced by The Goldman Sachs Group from $18.00 to $12.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also issued reports on PHAT. Craig Hallum restated a “buy” rating on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Guggenheim set a $18.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Thursday, March 6th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.17.

Phathom Pharmaceuticals Trading Up 4.4 %

Shares of PHAT stock opened at $5.00 on Monday. The stock has a 50-day moving average of $6.15 and a 200-day moving average of $11.05. The stock has a market cap of $341.89 million, a price-to-earnings ratio of -0.88 and a beta of 0.63. Phathom Pharmaceuticals has a 1-year low of $4.33 and a 1-year high of $19.71.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 93,546 shares in the company, valued at $616,468.14. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Terrie Curran sold 19,109 shares of Phathom Pharmaceuticals stock in a transaction dated 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 owns 360,465 shares of the company’s stock, valued at $2,375,464.35. The trade was a 5.03 % decrease in their position. The disclosure for this sale can be found here. Over 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 Trading of Phathom Pharmaceuticals

Institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock worth $957,000 after purchasing an additional 19,778 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Phathom Pharmaceuticals in the fourth quarter worth about $1,086,000. Two Sigma Investments LP lifted its holdings in shares of Phathom Pharmaceuticals by 215.4% in the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after buying an additional 331,760 shares in the last quarter. Tang Capital Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter valued at approximately $4,060,000. Finally, Rafferty Asset Management LLC purchased a new position in Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. 99.01% of the stock is currently owned by hedge funds and other 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.