Phathom Pharmaceuticals’ (PHAT) Buy Rating Reaffirmed at HC Wainwright

Phathom Pharmaceuticals (NASDAQ:PHAT)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $28.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 254.88% from the stock’s previous close.

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

Phathom Pharmaceuticals Price Performance

Shares of NASDAQ PHAT opened at $7.89 on Thursday. The stock has a market capitalization of $539.49 million, a price-to-earnings ratio of -1.39 and a beta of 0.56. The firm’s 50 day simple moving average is $12.90 and its 200-day simple moving average is $13.14. Phathom Pharmaceuticals has a 12 month low of $6.07 and a 12 month high of $19.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PHAT. Huntington National Bank increased its holdings in Phathom Pharmaceuticals by 62.2% in the 3rd quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after acquiring an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Phathom Pharmaceuticals by 41.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock worth $43,000 after purchasing an additional 722 shares in the last quarter. US Bancorp DE raised its position in shares of Phathom Pharmaceuticals by 28.6% during the 3rd quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Phathom Pharmaceuticals by 42.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock valued at $104,000 after buying an additional 2,987 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Phathom Pharmaceuticals by 10.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after buying an additional 1,339 shares during the last quarter. Hedge funds and other institutional investors own 99.01% of the company’s stock.

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.