Evercore ISI slashes price target on Phathom Pharmaceuticals Inc. [PHAT] – find out why.

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Phathom Pharmaceuticals Inc. [NASDAQ: PHAT] Loss -5.56% or -0.59 points to close at $10.02 with a heavy trading volume of 2,605,039 shares. Company report on 7 September 2022 Phathom Pharmaceuticals will be presented at the 24th Annual HC Wainwright World Investment Conference.


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Phathom Pharmaceuticals, Inc. (Nasdaq: PHAT), a biopharmaceutical company focused on developing and marketing new treatments for diseases and disorders of the gastrointestinal tract, today announced that members of the management team will be present at HC Wainwright’s 24th Annual Global Investment Conference.

Presentation Information: Phathom Pharmaceuticals’ on-demand presentation will run beginning Monday, September 12, 2022 at 7:00 AM ET.

The trading session opened at $10.60, shares rose to $10.72, and fell to $9.81, which is the range in which the share price has traded all day. PHAT’s daily chart indicates that the company posted a loss of 28.07% over the past six months. However, it is still -64.53% lower than its recent low.

If we look at the average trading volume of 260.31 thousand shares, PHAT reached a volume of 260,5039 on the last trading day, which is why market watchers consider the stock to be active.

Here’s what top stock market experts have to say about Phathom Pharmaceuticals Inc. [PHAT]:

Based on accurate, fact-backed analyzes by Wall Street experts, the current consensus on PHAT’s stock price target is $39.60 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for PHAT stock is a set recommendation at 2.20. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.

Evercore ISI has made an appreciation for the stock of Phathom Pharmaceuticals Inc. , keeping their opinion of the stock as compatible, with their previous recommendation back on May 6, 2022. While these analysts held their previous recommendation, Goldman raised the target price from $40 to $48. The new price target note was released on May 12, 2021, which is the official price target for Phathom Pharmaceuticals Inc.’s stock. Previously, the target price had taken another boost to $63, while BMO Capital Markets analysts maintained the Outperform rating on PHAT stock.

PHAT stock trading performance analysis

Phathom Pharmaceuticals Inc. [PHAT] Gains in the green at the end of last week, gained a positive trend and rose by 0.50. With this latest performance, PHAT shares are up 11.33% over the past four-week period, and have also fallen -28.07% over the past six months – not to mention a -68.57% drop in the last year of trading.

Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for PHAT stock for the last two weeks was set at 53.63, with the RSI for the last one traded at 53.79, and the three-week RSI for Phathom Pharmaceuticals Inc. is set at 53.02. [PHAT]. The current moving average for the last 50 trading days for this stock is 9.41, while it recorded at 10.31 for the last trading week, and 12.66 for the last 200 days.

Phathom Pharmaceuticals Inc. [PHAT]A deeper look at fundamental analysis

The return on equity for this stock fell to -108.01, with the return on assets remaining at -59.39.

The liquidity data of Phathom Pharmaceuticals Inc. Interesting too, with the quick ratio at 9.90 and the current ratio at 9.90.

In-house proprietary analysis at Phathom Pharmaceuticals Inc. [PHAT]

There are currently approximately $281 million, or 73.30% of PHAT’s stock, in the hands of institutional investors. The three largest corporate owners of PHAT shares are: FRAZIER LIFE SCIENCES MANAGEMENT, LP with ownership of 5,827,415, which is approximately 0% of the company’s market capitalization and approximately 0.50% of the total institutional ownership; MEDICXI VENTURES MANAGEMENT (JERSEY) LTD, which owns 2,450,679 shares with an approximate value of $24.56 million of PHAT stock; and INVESCO LTD. , which currently owns $20.51 million in PHAT stock with ownership of approximately -0.144% of the company’s market capitalization.

Positions increased in the shares of Phathom Pharmaceuticals Inc. held by institutional investors at the end of August and at the time of the August report, as 55 institutional owners consolidated their position in Phathom Pharmaceuticals Inc. [NASDAQ:PHAT] About 3,881,981 shares. In addition, 34 investors decreased their positions by 7,096,756 shares, while 17 investors held positions by 17,026,721 shares. The said changes put institutional holdings at 2,8005.458 shares, according to the latest report from the Securities and Exchange Commission. PHAT shares had 22 new institutional investments with a total of 827,244 shares, while 11 institutional investors sold deals amounting to 6,018,231 shares during the same period.

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