BMO Capital Markets Trims Phathom Pharmaceuticals (NASDAQ:PHAT) Target Price to $45.00

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) had its price target cut by BMO Capital Markets from $54.00 to $45.00 in a research report sent to investors on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group decreased their target price on Phathom Pharmaceuticals from $15.00 to $9.00 and set a neutral rating on the stock in a research report on Wednesday. Needham & Company LLC reduced their price target on Phathom Pharmaceuticals from $44.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday.

Phathom Pharmaceuticals Price Performance

Shares of Phathom Pharmaceuticals stock opened at $7.25 on Wednesday. Phathom Pharmaceuticals has a 12 month low of $6.09 and a 12 month high of $37.17. The company has a quick ratio of 12.79, a current ratio of 9.93 and a debt-to-equity ratio of 2.39. The business has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $12.19.

Phathom Pharmaceuticals (NASDAQ:PHATGet Rating) last released its earnings results on Tuesday, May 10th. The company reported ($1.07) earnings per share (EPS) for the quarter.

Insider Buying and Selling at Phathom Pharmaceuticals

In other Phathom Pharmaceuticals news, COO Azmi Nabulsi bought 20,000 shares of Phathom Pharmaceuticals stock in a transaction on Monday, May 16th. The shares were purchased at an average price of $8.16 per share, with a total value of $163,200.00. Following the acquisition, the chief operating officer now owns 785,700 shares in the company, valued at approximately $6,411,312. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Phathom Pharmaceuticals news, insider Terrie Curran bought 20,500 shares of Phathom Pharmaceuticals stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $7.41 per share, with a total value of $151,905.00. Following the acquisition, the insider now owns 64,595 shares in the company, valued at approximately $478,648.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Azmi Nabulsi purchased 20,000 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was purchased at an average price of $8.16 per share, with a total value of $163,200.00. Following the completion of the purchase, the chief operating officer now directly owns 785,700 shares in the company, valued at approximately $6,411,312. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 53,000 shares of company stock valued at $415,105. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pictet Asset Management SA bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $319,000. Laurion Capital Management LP bought a new position in shares of Phathom Pharmaceuticals in the 4th quarter valued at $984,000. Invesco Ltd. lifted its stake in shares of Phathom Pharmaceuticals by 3.6% in the 4th quarter. Invesco Ltd. now owns 2,067,356 shares of the company’s stock valued at $40,666,000 after acquiring an additional 71,340 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Phathom Pharmaceuticals by 1.0% in the 4th quarter. Northern Trust Corp now owns 187,905 shares of the company’s stock valued at $3,696,000 after acquiring an additional 1,829 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of Phathom Pharmaceuticals by 12.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 1,315,717 shares of the company’s stock valued at $25,880,000 after acquiring an additional 145,493 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors.

Phathom Pharmaceuticals Company Profile

(Get Rating)

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) that blocks acid secretion in the stomach.

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