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

HC Wainwright reaffirmed their buy rating on shares of Phathom Pharmaceuticals (NASDAQ:PHAT) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $28.00 target price on the stock.

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

Phathom Pharmaceuticals Trading Down 4.9 %

Shares of NASDAQ PHAT opened at $7.99 on Thursday. The business’s 50 day moving average is $13.09 and its 200-day moving average is $13.16. Phathom Pharmaceuticals has a 1-year low of $6.07 and a 1-year high of $19.71.

Institutional Investors Weigh In On Phathom Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised 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 valued at $27,000 after acquiring an additional 564 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Phathom Pharmaceuticals by 41.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,470 shares of the company’s stock valued at $43,000 after purchasing an additional 722 shares in the last quarter. US Bancorp DE raised its stake in Phathom Pharmaceuticals by 28.6% in the third 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. The Manufacturers Life Insurance Company lifted its position in Phathom Pharmaceuticals by 10.6% during the second quarter. The Manufacturers Life Insurance Company now owns 13,941 shares of the company’s stock worth $144,000 after purchasing an additional 1,339 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Phathom Pharmaceuticals by 12.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,573 shares of the company’s stock worth $208,000 after buying an additional 2,172 shares in the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.

Phathom Pharmaceuticals Company Profile

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.