In a report released today, Joseph Stringer from Needham assigned a Buy rating to Phathom Pharmaceuticals (PHAT), with a price target of $55.00. The company’s shares closed last Wednesday at $37.56.
According to TipRanks.com, Stringer is a 1-star analyst with an average return of -4.8% and a 43.3% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Lexicon Pharmaceuticals, and Crispr Therapeutics AG.
Currently, the analyst consensus on Phathom Pharmaceuticals is a Strong Buy with an average price target of $58.25, implying a 58.7% upside from current levels. In a report issued on March 18, Guggenheim also maintained a Buy rating on the stock with a $65.00 price target.
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The company has a one-year high of $64.54 and a one-year low of $24.10. Currently, Phathom Pharmaceuticals has an average volume of 102.5K.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PHAT in relation to earlier this year.
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Phathom Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. It develops Vonoprazan, a potassium-competitive acid blocker. The company was founded by Tadataka Yamada, David Socks, Azmi Nabulsi, Aditya Kohli, and Roger Ulrich on January 9, 2018 and is headquartered in Buffalo Grove, IL.