Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Upgraded by Cantor Fitzgerald

Phathom Pharmaceuticals (NASDAQ:PHAT) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.00.

Phathom Pharmaceuticals Stock Performance

Shares of NASDAQ PHAT opened at $5.58 on Tuesday. The company has a market capitalization of $381.54 million, a P/E ratio of -0.98 and a beta of 0.54. Phathom Pharmaceuticals has a 52-week low of $5.21 and a 52-week high of $19.71. The company’s 50 day moving average price is $6.70 and its 200-day moving average price is $11.61.

Insider Buying and Selling

In related news, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $6.59, for a total value of $125,928.31. Following the transaction, the insider now directly owns 360,465 shares of the company’s stock, valued at approximately $2,375,464.35. The trade was a 5.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Karbe purchased 12,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the acquisition, the director now directly owns 57,000 shares in the company, valued at $452,010. The trade was a 28.09 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 35,987 shares of company stock valued at $240,551. 24.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Phathom Pharmaceuticals by 20.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock valued at $957,000 after purchasing an additional 19,778 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $1,086,000. Two Sigma Investments LP lifted its holdings in Phathom Pharmaceuticals by 215.4% during the fourth quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after purchasing an additional 331,760 shares during the last quarter. Tang Capital Management LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $4,060,000. Finally, Rafferty Asset Management LLC purchased a new stake in Phathom Pharmaceuticals during the fourth quarter valued at about $90,000. 99.01% of the stock is owned by hedge funds and other institutional investors.

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.