Craig Hallum Forecasts Strong Price Appreciation for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock

Phathom Pharmaceuticals (NASDAQ:PHAT) had its target price increased by equities researchers at Craig Hallum from $12.00 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target would indicate a potential upside of 89.52% from the company’s previous close.

A number of other analysts have also commented on PHAT. Guggenheim lowered their price objective on Phathom Pharmaceuticals from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their price target on shares of Phathom Pharmaceuticals from $10.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and set a $20.00 target price on shares of Phathom Pharmaceuticals in a research report on Monday. Cantor Fitzgerald upgraded Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Phathom Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $17.50.

Phathom Pharmaceuticals Stock Performance

NASDAQ PHAT opened at $8.97 on Monday. The stock has a market capitalization of $626.23 million, a P/E ratio of -1.58 and a beta of 0.08. Phathom Pharmaceuticals has a 52 week low of $2.21 and a 52 week high of $19.71. The stock has a fifty day moving average of $4.29 and a 200-day moving average of $5.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in shares of Phathom Pharmaceuticals by 60.4% during the 4th quarter. Bank of America Corp DE now owns 166,505 shares of the company’s stock valued at $1,352,000 after purchasing an additional 62,726 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Phathom Pharmaceuticals by 41.3% in the fourth quarter. Wells Fargo & Company MN now owns 25,516 shares of the company’s stock valued at $207,000 after buying an additional 7,462 shares during the period. ProShare Advisors LLC increased its position in shares of Phathom Pharmaceuticals by 36.3% during the fourth quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after acquiring an additional 3,804 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Phathom Pharmaceuticals by 49.4% during the fourth quarter. Deutsche Bank AG now owns 30,213 shares of the company’s stock worth $245,000 after acquiring an additional 9,986 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Phathom Pharmaceuticals in the 4th quarter worth $3,701,000. 99.01% of the stock is currently owned by institutional investors.

About Phathom Pharmaceuticals

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.