Phathom Pharmaceuticals (NASDAQ:PHAT) Reaches New 12-Month High – What’s Next?

by · The Cerbat Gem

Shares of Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT – Get Free Report) hit a new 52-week high on Friday . The company traded as high as $16.45 and last traded at $15.0260, with a volume of 435369 shares trading hands. The stock had previously closed at $14.57.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Craig Hallum restated a “buy” rating and set a $22.00 target price on shares of Phathom Pharmaceuticals in a report on Friday, October 31st. Wall Street Zen upgraded Phathom Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. HC Wainwright increased their price target on shares of Phathom Pharmaceuticals from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Guggenheim reiterated a “buy” rating and set a $20.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Read Our Latest Research Report on PHAT

Phathom Pharmaceuticals Price Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of -3.94 and a beta of 0.43. The company has a fifty day moving average price of $13.81 and a two-hundred day moving average price of $11.13.

Phathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) last issued its 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 business had revenue of $49.50 million during the quarter, compared to the consensus estimate of $47.03 million. As a group, sell-side analysts forecast that Phathom Pharmaceuticals, Inc. will post -4.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in Phathom Pharmaceuticals by 442.6% in the third quarter. Jones Financial Companies Lllp now owns 2,523 shares of the company’s stock valued at $30,000 after purchasing an additional 2,058 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Phathom Pharmaceuticals during the second quarter valued at approximately $30,000. Ameritas Investment Partners Inc. grew its holdings in shares of Phathom Pharmaceuticals by 39.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,311 shares of the company’s stock worth $41,000 after purchasing an additional 1,216 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Phathom Pharmaceuticals by 71.9% in the second quarter. BNP Paribas Financial Markets now owns 5,072 shares of the company’s stock worth $49,000 after buying an additional 2,122 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Phathom Pharmaceuticals by 58.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,710 shares of the company’s stock valued at $55,000 after buying an additional 2,102 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Phathom Pharmaceuticals Company Profile

(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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