Phathom Pharmaceuticals (NASDAQ:PHAT) Now Covered by Analysts at Raymond James Financial

by · The Markets Daily

Raymond James Financial started coverage on shares of Phathom Pharmaceuticals (NASDAQ:PHAT – Free Report) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage issued a strong-buy rating and a $28.00 target price on the stock.

Several other brokerages also recently commented on PHAT. Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. HC Wainwright increased their target price on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays initiated coverage on shares of Phathom Pharmaceuticals in a research report on Monday. They set an “equal weight” rating and a $16.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Phathom Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

View Our Latest Analysis on Phathom Pharmaceuticals

Phathom Pharmaceuticals Stock Performance

NASDAQ:PHAT traded down $0.01 during trading on Thursday, reaching $14.56. The company’s stock had a trading volume of 1,244,387 shares, compared to its average volume of 748,722. Phathom Pharmaceuticals has a 12 month low of $2.21 and a 12 month high of $16.45. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -3.81 and a beta of 0.43. The firm has a 50 day moving average of $13.85 and a 200-day moving average of $11.20.

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.15. The company had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $47.03 million. Equities research analysts forecast that Phathom Pharmaceuticals will post -4.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of institutional investors have recently made changes to their positions in PHAT. Millennium Management LLC boosted its position in Phathom Pharmaceuticals by 125.8% during the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock valued at $59,809,000 after acquiring an additional 2,830,954 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in Phathom Pharmaceuticals by 23.3% in the second quarter. Frazier Life Sciences Management L.P. now owns 12,466,489 shares of the company’s stock worth $119,554,000 after purchasing an additional 2,357,210 shares during the period. 683 Capital Management LLC boosted its holdings in Phathom Pharmaceuticals by 45.7% in the second quarter. 683 Capital Management LLC now owns 2,105,000 shares of the company’s stock worth $20,187,000 after acquiring an additional 660,000 shares in the last quarter. Moore Capital Management LP purchased a new position in Phathom Pharmaceuticals in the 2nd quarter worth approximately $5,754,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Phathom Pharmaceuticals during the first quarter valued at $3,738,000. Hedge funds and other institutional investors own 99.01% of the company’s stock.

About Phathom Pharmaceuticals

(Get Free Report)

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.

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