Phathom Pharmaceuticals (NASDAQ:PHAT) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research report report published on Thursday morning,Benzinga reports. They currently have a $28.00 target price on the stock.

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Wednesday.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT opened at $7.89 on Thursday. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $19.71. The firm has a market cap of $539.49 million, a price-to-earnings ratio of -1.39 and a beta of 0.56. The company has a 50 day moving average price of $12.90 and a 200-day moving average price of $13.16.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Eagle Asset Management Inc. increased its holdings in Phathom Pharmaceuticals by 25.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 455,196 shares of the company’s stock valued at $7,675,000 after purchasing an additional 93,733 shares during the last quarter. FMR LLC boosted its holdings in shares of Phathom Pharmaceuticals by 49,000.7% in the 3rd quarter. FMR LLC now owns 1,304,114 shares of the company’s stock valued at $23,578,000 after buying an additional 1,301,458 shares in the last quarter. Oracle Investment Management Inc. purchased a new stake in shares of Phathom Pharmaceuticals in the 2nd quarter valued at about $2,318,000. Jennison Associates LLC grew its position in shares of 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 acquiring an additional 3,108,810 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Phathom Pharmaceuticals during the third quarter worth approximately $7,952,000. 99.01% of the stock is currently owned by institutional investors and hedge funds.

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.