PHAT

Craig-Hallum Initiates Coverage of Phathom Pharmaceuticals (PHAT) with Buy Recommendation

On March 13, 2023, Craig-Hallum initiated coverage of Phathom Pharmaceuticals with a Buy recommendation.

Analyst Price Forecast Suggests 173.43% Upside

As of March 14, 2023, the average one-year price target for Phathom Pharmaceuticals is $19.55. The forecasts range from a low of $9.09 to a high of $31.50. The average price target represents an increase of 173.43% from its latest reported closing price of $7.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Phathom Pharmaceuticals is $37MM. The projected annual non-GAAP EPS is -$5.64.

What are Large Shareholders Doing?

PHAT / Phathom Pharmaceuticals Inc Shares Held by Institutions

Frazier Life Sciences Management holds 8,407K shares representing 20.15% ownership of the company. No change in the last quarter.

Medicxi Ventures Management holds 2,484K shares representing 5.95% ownership of the company. No change in the last quarter.

Invesco holds 2,208K shares representing 5.29% ownership of the company. In it's prior filing, the firm reported owning 2,068K shares, representing an increase of 6.33%. The firm decreased its portfolio allocation in PHAT by 1.62% over the last quarter.

Avidity Partners Management holds 1,900K shares representing 4.55% ownership of the company. In it's prior filing, the firm reported owning 1,907K shares, representing a decrease of 0.36%. The firm increased its portfolio allocation in PHAT by 7.52% over the last quarter.

Ensign Peak Advisors holds 1,761K shares representing 4.22% ownership of the company. No change in the last quarter.

What is the Fund Sentiment?

There are 221 funds or institutions reporting positions in Phathom Pharmaceuticals. This is a decrease of 19 owner(s) or 7.92% in the last quarter. Average portfolio weight of all funds dedicated to PHAT is 0.16%, an increase of 5.49%. Total shares owned by institutions decreased in the last three months by 7.54% to 31,352K shares. The put/call ratio of PHAT is 0.03, indicating a bullish outlook.

Phathom Pharmaceuticals Background Information
(This description is provided by the company.)

Phathom Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. Phathom has in-licensed the exclusive rights in the United States, Europe, and Canada to vonoprazan, a novel potassium competitive acid blocker (P-CAB) in late-stage development for the treatment of acid-related disorders.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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