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

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $28.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 254.88% from the company’s previous close.

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

Phathom Pharmaceuticals Stock Down 1.2 %

PHAT opened at $7.89 on Thursday. The firm’s 50-day moving average price is $12.90 and its 200-day moving average price is $13.14. The company has a market cap of $539.49 million, a P/E ratio of -1.39 and a beta of 0.56. Phathom Pharmaceuticals has a 52-week low of $6.07 and a 52-week high of $19.71.

Institutional Investors Weigh In On Phathom Pharmaceuticals

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