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Phathom Pharmaceuticals Inc. (NASDAQ: PHAT) Stock Forecast 2023: $27.00 Per Share With Bullish Signs

In today’s recent session, 1.0 million shares of the Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) have been traded, and its beta is 0.33. Most recently the company’s share price was $11.90, and it changed around -$1.17 or -8.95% from the last close, which brings the market valuation of the company to $557.17M. PHAT at last check was trading at a discount to its 52-week high of $14.45, offering almost -21.43% off that amount. The share price’s 52-week low was $5.84, which indicates that the recent value has risen by an impressive 50.92% since then. We note from Phathom Pharmaceuticals Inc.’s average daily trading volume that its 10-day average is 0.26 million shares, with the 3-month average coming to 381.60K.

Phathom Pharmaceuticals Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended PHAT as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Phathom Pharmaceuticals Inc. is expected to report earnings per share of -$1.04 for the current quarter.

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Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) trade information

Instantly PHAT has been showing red trend so far today with a performance of -8.95% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 13.83 on Tuesday, 05/23/23 increased the stock’s daily price by 13.96%. The company’s shares are currently up 6.06% year-to-date, but still down -10.32% over the last five days. On the other hand, Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) is 16.67% down in the 30-day period. We can see from the shorts that 4.87 million shares have been sold at a short interest cover period of 11.04 day(s).

The consensus price target as assigned by Wall Street analysts is $18.50, which translates to bulls needing to increase their stock price by 35.68% from its current value. Analyst projections state that PHAT is forecast to be at a low of $9.00 and a high of $27.00. In order for the stock price to hit the forecast high, the stock would need to plunge -126.89% from its current level, while the stock would need to crash 24.37% from its current level to reach the projected low.

Phathom Pharmaceuticals Inc. (PHAT) estimates and forecasts

Phathom Pharmaceuticals Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 22.18 percent over the past six months and at a 18.61% annual growth rate that is well above the industry average of 11.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 21.80% in revenue this quarter, and will report an increase of 11.40% in the next quarter.

PHAT Dividends

Phathom Pharmaceuticals Inc.’s next quarterly earnings report is expected to be released around July 31 and August 04.

Phathom Pharmaceuticals Inc. (NASDAQ:PHAT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 21.52% of Phathom Pharmaceuticals Inc. shares, and 70.57% of them are in the hands of institutional investors. The stock currently has a share float of 89.92%. Phathom Pharmaceuticals Inc. stock is held by 141 institutions, with Frazier Life Sciences Management, L.P. being the largest institutional investor. By Mar 30, 2023, it held 19.28% of the shares, which is about 8.41 million shares worth $99.71 million.

Carlyle Group Inc., with 6.73% or 2.94 million shares worth $34.81 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Invesco Global Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2023. The former held 1.12 million shares worth $13.32 million, making up 2.58% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 0.61 million shares worth around $7.21 million, which represents about 1.39% of the total shares outstanding.

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