Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.50.

PHAT has been the subject of a number of research reports. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, October 8th.

Phathom Pharmaceuticals Price Performance

Phathom Pharmaceuticals stock opened at $13.81 on Tuesday. The company has a market cap of $979.68 million, a PE ratio of -2.92 and a beta of 0.43. The company has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $8.74. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $19.50.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Phathom Pharmaceuticals by 0.8% during the second quarter. JPMorgan Chase & Co. now owns 138,516 shares of the company’s stock valued at $1,328,000 after purchasing an additional 1,123 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Phathom Pharmaceuticals by 39.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock valued at $41,000 after purchasing an additional 1,216 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Phathom Pharmaceuticals by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 15,826 shares of the company’s stock valued at $152,000 after purchasing an additional 1,364 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Phathom Pharmaceuticals by 58.3% during the second quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock worth $55,000 after acquiring an additional 2,102 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Phathom Pharmaceuticals by 71.9% during the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after acquiring an additional 2,122 shares during the period. 99.01% of the stock is currently owned by 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.