Phathom Pharmaceuticals (NASDAQ:PHAT) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on PHAT. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Friday, January 10th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $23.00.

Phathom Pharmaceuticals Stock Performance

NASDAQ PHAT opened at $5.58 on Tuesday. Phathom Pharmaceuticals has a 52 week low of $5.21 and a 52 week high of $19.71. The stock’s 50 day moving average price is $6.70 and its two-hundred day moving average price is $11.61. The stock has a market capitalization of $381.54 million, a price-to-earnings ratio of -0.98 and a beta of 0.54.

Insider Transactions at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $43,381.97. Following the sale, the chief financial officer now directly owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrie Curran sold 19,109 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total transaction of $125,928.31. Following the completion of the sale, the insider now owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. This represents a 5.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,987 shares of company stock worth $240,551 in the last 90 days. Corporate insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Phathom Pharmaceuticals by 20.2% during 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 buying an additional 19,778 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth about $1,086,000. Two Sigma Investments LP raised its stake in Phathom Pharmaceuticals by 215.4% in the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock worth $3,945,000 after purchasing an additional 331,760 shares in the last quarter. Tang Capital Management LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth about $4,060,000. Finally, Rafferty Asset Management LLC acquired a new stake in Phathom Pharmaceuticals in the 4th quarter worth about $90,000. Institutional investors and hedge funds own 99.01% of the company’s stock.

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.