Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Phathom Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on developing and commercializing novel treatments for gastrointestinal diseases. The company’s product pipeline consists of vonoprazan, which are in clinical stage. Phathom Pharmaceuticals Inc. is based in Buffalo Grove, United States. “
Several other equities analysts have also recently commented on PHAT. Needham & Company LLC reaffirmed a buy rating and set a $45.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday, August 7th. Goldman Sachs Group downgraded Phathom Pharmaceuticals from a neutral rating to a sell rating and set a $34.00 target price on the stock. in a report on Friday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $37.75.
Phathom Pharmaceuticals (NASDAQ:PHAT) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.02). As a group, equities analysts predict that Phathom Pharmaceuticals will post -2.7 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. bought a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter valued at about $25,000. Bank of Montreal Can bought a new position in Phathom Pharmaceuticals in the second quarter worth about $26,000. Great West Life Assurance Co. Can acquired a new position in Phathom Pharmaceuticals in the second quarter valued at approximately $28,000. Victory Capital Management Inc. grew its holdings in shares of Phathom Pharmaceuticals by 37.3% during the first quarter. Victory Capital Management Inc. now owns 2,089 shares of the company’s stock valued at $54,000 after purchasing an additional 568 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Phathom Pharmaceuticals by 50.2% during the 1st quarter. Citigroup Inc. now owns 3,241 shares of the company’s stock worth $83,000 after purchasing an additional 1,083 shares during the period. 74.54% of the stock is owned by institutional investors and hedge funds.
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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