The Goldman Sachs Group Cuts Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $12.00

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price objective cut by The Goldman Sachs Group from $18.00 to $12.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently commented on PHAT. HC Wainwright reiterated a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. Craig Hallum reiterated a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a research note on Thursday, March 6th. Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim set a $18.00 price objective on shares of Phathom Pharmaceuticals in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $22.17.

Phathom Pharmaceuticals Price Performance

Shares of PHAT stock opened at $5.00 on Monday. The company has a fifty day moving average price of $6.15 and a two-hundred day moving average price of $11.05. Phathom Pharmaceuticals has a one year low of $4.33 and a one year high of $19.71. The stock has a market cap of $341.89 million, a P/E ratio of -0.88 and a beta of 0.63.

Insider Activity at Phathom Pharmaceuticals

In related news, insider Terrie Curran sold 19,109 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $125,928.31. Following the completion of the transaction, the insider now owns 360,465 shares of the company’s stock, valued at $2,375,464.35. The trade was a 5.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Karbe acquired 12,500 shares of Phathom Pharmaceuticals stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the purchase, the director now directly owns 57,000 shares of the company’s stock, valued at approximately $452,010. This represents a 28.09 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 35,987 shares of company stock worth $240,551. Corporate insiders own 24.10% of the company’s stock.

Institutional Investors Weigh In On Phathom Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank increased its stake in shares of Phathom Pharmaceuticals by 62.2% in the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock valued at $27,000 after purchasing an additional 564 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Phathom Pharmaceuticals in the fourth quarter valued at about $74,000. Teacher Retirement System of Texas acquired a new position in Phathom Pharmaceuticals during the fourth quarter worth about $90,000. Rafferty Asset Management LLC bought a new position in shares of Phathom Pharmaceuticals in the fourth quarter worth about $90,000. Finally, US Bancorp DE boosted its stake in shares of Phathom Pharmaceuticals by 28.6% in the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock valued at $95,000 after purchasing an additional 1,166 shares in the last quarter. 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.