Phathom Pharmaceuticals (NASDAQ:PHAT) Lowered to Sell at Goldman Sachs Group
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.
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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