Phathom Pharmaceuticals (NASDAQ:PHAT) Given Buy Rating at Guggenheim

Guggenheim reissued their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note issued to investors on Wednesday,Benzinga reports.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group dropped their target price on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. Craig Hallum reaffirmed a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, March 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Wednesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Stock Up 7.2 %

Phathom Pharmaceuticals stock opened at $5.49 on Wednesday. The firm has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $9.87. Phathom Pharmaceuticals has a twelve month low of $4.07 and a twelve month high of $19.71. The company has a market capitalization of $382.31 million, a PE ratio of -0.96 and a beta of 0.63.

Insider Activity at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was 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. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Azmi Nabulsi sold 7,886 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the transaction, the chief operating officer now owns 233,390 shares in the company, valued at $1,538,040.10. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,578 shares of company stock worth $221,279 over the last 90 days. 24.10% of the stock is owned by company insiders.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds have recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new position in Phathom Pharmaceuticals during the 4th quarter valued at about $74,000. Teacher Retirement System of Texas bought a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. Rafferty Asset Management LLC purchased a new position in shares of Phathom Pharmaceuticals during the fourth quarter valued at approximately $90,000. Versor Investments LP bought a new stake in shares of Phathom Pharmaceuticals in the 4th quarter worth approximately $101,000. Finally, Virtu Financial LLC bought a new stake in Phathom Pharmaceuticals in the fourth quarter worth $109,000. Institutional investors 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.