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Is Phathom Pharmaceuticals Inc. (NASDAQ: PHAT) Stock Set To Rise More?

In the latest trading session, 0.63 million Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) shares changed hands as the company’s beta touched 0.48. With the company’s most recent per share price at $11.70 changed hands at -$0.41 or -3.34% at last look, the market valuation stands at $683.57M. PHAT’s current price is a discount, trading about -45.47% off its 52-week high of $17.02. The share price had its 52-week low at $5.84, which suggests the last value was 50.09% up since then. When we look at Phathom Pharmaceuticals Inc.’s average trading volume, we note the 10-day average is 0.52 million shares, with the 3-month average coming to 328.52K.

Analysts gave the Phathom Pharmaceuticals Inc. (PHAT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended PHAT as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Phathom Pharmaceuticals Inc.’s EPS for the current quarter is expected to be -$0.89.

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Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) trade information

Instantly PHAT was in red as seen in intraday trades today. With action -10.92%, the performance over the past five days has been red. The drop to weekly highs of 13.94 on Monday, 09/18/23 subtracted -3.34% to the stock’s daily price. The company’s shares are showing year-to-date upside of 4.32%, with the 5-day performance at -10.92% in the red. However, in the 30-day time frame, Phathom Pharmaceuticals Inc. (NASDAQ:PHAT) is -20.86% down. Looking at the short shares, we see there were 2.77 million shares sold at short interest cover period of 8.85 days.

The consensus price target for the stock as assigned by Wall Street analysts is $21.86, meaning bulls need an upside of 46.48% from its recent market value. According to analyst projections, PHAT’s forecast low is $9.00 with $28.00 as the target high. To hit the forecast high, the stock’s price needs a -139.32% plunge from its current level, while the stock would need to tank 23.08% for it to hit the projected low.

Phathom Pharmaceuticals Inc. (PHAT) estimates and forecasts

Data shows that the Phathom Pharmaceuticals Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 82.04% over the past 6 months, a 19.41% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Phathom Pharmaceuticals Inc. will rise 32.60%, while the growth in revenue is estimated to hit 16.50% for the next quarter.

7 analysts are of the opinion that Phathom Pharmaceuticals Inc.’s revenue for the quarter ending Dec 2023 will be $1.44 million. The company’s revenue for the corresponding quarters a year ago was $200k.

The 2023 estimates are for Phathom Pharmaceuticals Inc. earnings to decrease by -7.20%.

PHAT Dividends

Phathom Pharmaceuticals Inc. is expected to release its next quarterly earnings report in October.

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

If we look at who the major shareholders are, we find that insiders hold 17.84% of Phathom Pharmaceuticals Inc. shares while 62.86% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 76.52%. There are 62.86% institutions holding the Phathom Pharmaceuticals Inc. stock share, with Frazier Life Sciences Management, L.P. the top institutional holder. As of Jun 29, 2023, the company held 17.80% of the shares, roughly 10.11 million PHAT shares worth $144.76 million.

Medicxi Ventures Management (Jersey) Ltd holds the second largest percentage of outstanding shares, with 6.62% or 3.76 million shares worth $53.86 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Apr 29, 2023 were Invesco Global Fund and Vanguard Total Stock Market Index Fund. With 1.14 million shares estimated at $12.19 million under it, the former controlled 2.01% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.95% of the shares, roughly 1.11 million shares worth around $15.87 million.

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