The Goldman Sachs Group Cuts Phathom Pharmaceuticals (NASDAQ:PHAT) Price Target to $12.00

Phathom Pharmaceuticals (NASDAQ:PHAT) had its price target cut by equities researchers 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 indicates a potential upside of 168.16% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Craig Hallum reissued a “buy” rating on shares of Phathom Pharmaceuticals in a research report on Friday. Cantor Fitzgerald raised Phathom Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, February 25th. Guggenheim set a $18.00 target price on shares of Phathom Pharmaceuticals in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Phathom Pharmaceuticals in a research report on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research note on Thursday. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.17.

Phathom Pharmaceuticals Trading Down 11.6 %

Shares of PHAT stock traded down $0.59 on Monday, reaching $4.48. The company had a trading volume of 1,148,698 shares, compared to its average volume of 934,378. The stock has a market cap of $305.99 million, a PE ratio of -0.79 and a beta of 0.63. The company has a 50-day moving average of $6.35 and a 200-day moving average of $11.22. Phathom Pharmaceuticals has a 12 month low of $4.46 and a 12 month high of $19.71.

Insiders Place Their Bets

In other news, Director Frank Karbe bought 12,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $99,125.00. Following the completion of the purchase, the director now owns 57,000 shares in the company, valued at approximately $452,010. This represents a 28.09 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Azmi Nabulsi sold 7,886 shares of Phathom Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $6.59, for a total transaction of $51,968.74. Following the completion of the sale, the chief operating officer now directly owns 233,390 shares of the company’s stock, valued at approximately $1,538,040.10. This trade represents a 3.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,987 shares of company stock worth $240,551 over the last 90 days. Corporate insiders own 24.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PHAT. Huntington National Bank boosted its stake in Phathom Pharmaceuticals by 62.2% during the third quarter. Huntington National Bank now owns 1,471 shares of the company’s stock worth $27,000 after buying an additional 564 shares during the period. US Bancorp DE raised its holdings in Phathom Pharmaceuticals by 28.6% in the third quarter. US Bancorp DE now owns 5,248 shares of the company’s stock worth $95,000 after purchasing an additional 1,166 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Phathom Pharmaceuticals by 18.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,149 shares of the company’s stock valued at $180,000 after acquiring an additional 3,408 shares in the last quarter. ProShare Advisors LLC grew its stake in Phathom Pharmaceuticals by 36.3% during the 4th quarter. ProShare Advisors LLC now owns 14,289 shares of the company’s stock worth $116,000 after buying an additional 3,804 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Phathom Pharmaceuticals by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 102,748 shares of the company’s stock valued at $834,000 after acquiring an additional 4,557 shares in the last quarter. 99.01% of the stock is owned by hedge funds and other institutional investors.

About Phathom Pharmaceuticals

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.