The Goldman Sachs Group Issues Pessimistic Forecast for Phathom Pharmaceuticals (NASDAQ:PHAT) Stock Price

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price objective reduced by investment analysts at The Goldman Sachs Group from $18.00 to $12.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 168.16% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Guggenheim set a $18.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Phathom Pharmaceuticals in a research report on Friday. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Thursday. Finally, Cantor Fitzgerald raised shares of Phathom Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Phathom Pharmaceuticals currently has an average rating of “Buy” and an average price target of $22.17.

Phathom Pharmaceuticals Price Performance

NASDAQ:PHAT traded down $0.59 during trading hours on Monday, reaching $4.48. 1,148,698 shares of the company traded hands, compared to its average volume of 934,378. The stock has a market cap of $305.99 million, a P/E ratio of -0.79 and a beta of 0.63. Phathom Pharmaceuticals has a 1-year low of $4.46 and a 1-year high of $19.71. The firm’s 50-day moving average is $6.35 and its 200-day moving average is $11.22.

Insider Transactions at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, CFO Molly Henderson sold 6,583 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $43,381.97. Following the transaction, the chief financial officer now owns 93,546 shares of the company’s stock, valued at approximately $616,468.14. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total value of $51,968.74. Following the completion of the transaction, the chief operating officer now owns 233,390 shares in the company, valued at $1,538,040.10. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,987 shares of company stock valued at $240,551 in the last quarter. Insiders own 24.10% of the company’s stock.

Institutional Trading of Phathom Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Phathom Pharmaceuticals by 20.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,803 shares of the company’s stock valued at $957,000 after acquiring an additional 19,778 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Phathom Pharmaceuticals during the 4th quarter worth $1,086,000. Two Sigma Investments LP grew its stake in Phathom Pharmaceuticals by 215.4% in the 4th quarter. Two Sigma Investments LP now owns 485,790 shares of the company’s stock valued at $3,945,000 after buying an additional 331,760 shares during the last quarter. Tang Capital Management LLC bought a new position in Phathom Pharmaceuticals in the 4th quarter worth $4,060,000. Finally, Rafferty Asset Management LLC acquired a new position in Phathom Pharmaceuticals during the 4th quarter worth $90,000. 99.01% of the stock is currently owned by hedge funds and other institutional investors.

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.