Craig-Hallum Remains a Buy on Phathom Pharmaceuticals (PHAT)

Craig-Hallum analyst Chase Knickerbocker maintained a Buy rating on Phathom Pharmaceuticals (PHAT – Research Report) today. The company’s shares closed yesterday at $10.09.

Knickerbocker covers the Healthcare sector, focusing on stocks such as Ironwood Pharma, Xtant Medical Holdings, and Avadel Pharmaceuticals. According to TipRanks, Knickerbocker has an average return of 3.4% and a 46.84% success rate on recommended stocks.

Currently, the analyst consensus on Phathom Pharmaceuticals is a Strong Buy with an average price target of $22.00, an 118.04% upside from current levels. In a report released today, Needham also assigned a Buy rating to the stock with a $26.00 price target.

The company has a one-year high of $17.02 and a one-year low of $6.07. Currently, Phathom Pharmaceuticals has an average volume of 884.9K.

Based on the recent corporate insider activity of 23 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 (PHAT) Company Description:

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.