Goldman Sachs Group downgraded shares of Phathom Pharmaceuticals (NASDAQ:PHAT) from a neutral rating to a sell rating in a report published on Friday, BenzingaRatingsTable reports. Goldman Sachs Group currently has $34.00 price target on the stock.

PHAT has been the topic of a number of other reports. Needham & Company LLC assumed coverage on shares of Phathom Pharmaceuticals in a report on Tuesday, May 12th. They issued a buy rating and a $45.00 target price on the stock. ValuEngine upgraded shares of Phathom Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, March 20th. Finally, Zacks Investment Research cut Phathom Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Phathom Pharmaceuticals presently has a consensus rating of Buy and an average price target of $40.00.

Shares of NASDAQ PHAT opened at $33.62 on Friday. The stock has a market cap of $1.03 billion and a P/E ratio of -2.40. The company has a current ratio of 57.22, a quick ratio of 57.22 and a debt-to-equity ratio of 0.22. Phathom Pharmaceuticals has a 12-month low of $18.51 and a 12-month high of $64.54. The business’s fifty day simple moving average is $42.67 and its 200-day simple moving average is $34.77.

Phathom Pharmaceuticals (NASDAQ:PHAT) last released its earnings results on Tuesday, May 12th. The company reported ($0.62) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.10. On average, equities analysts forecast that Phathom Pharmaceuticals will post -2.71 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in Phathom Pharmaceuticals by 49.6% in the first quarter. State Street Corp now owns 187,308 shares of the company’s stock valued at $4,836,000 after acquiring an additional 62,065 shares in the last quarter. RA Capital Management L.P. lifted its holdings in shares of Phathom Pharmaceuticals by 1.7% in the 1st quarter. RA Capital Management L.P. now owns 3,707,408 shares of the company’s stock valued at $95,725,000 after purchasing an additional 60,600 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Phathom Pharmaceuticals by 619.1% in the 1st quarter. Wells Fargo & Company MN now owns 6,299 shares of the company’s stock valued at $163,000 after purchasing an additional 5,423 shares during the period. Geode Capital Management LLC grew its stake in Phathom Pharmaceuticals by 4.9% during the 1st quarter. Geode Capital Management LLC now owns 160,927 shares of the company’s stock worth $4,155,000 after buying an additional 7,493 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Phathom Pharmaceuticals by 13.6% during the first quarter. Janus Henderson Group PLC now owns 1,667,577 shares of the company’s stock worth $42,175,000 after buying an additional 200,115 shares during the period. 74.90% of the stock is owned by hedge funds and other institutional investors.

Phathom Pharmaceuticals Company Profile

Phathom Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium competitive acid blocker (P-CAB) in late clinical-stage development for the treatment of gastric acid-related diseases.

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