UPDATE: Goldman Sachs Downgrades Phathom Pharmaceuticals (PHAT) to Sell

(Updated - June 26, 2020 5:15 AM EDT)

(updating comment)

Goldman Sachs analyst Paul Choi downgraded Phathom Pharmaceuticals (NASDAQ: PHAT) from Neutral to Sell with a price target of $34.00.

The analyst comments "While we are fundamentally positive on the regulatory and commercial outlook for vonoprazan given the strong prior Phase 3 data and PPI market analogs, we believe that investors largely appreciate this part of the story. Heading into 2H20, we see further stock price appreciation as challenging as the story mostly enters a catalyst vacuum prior to the Phase 3 data, with minor updates
available to drive the story."

For an analyst ratings summary and ratings history on Phathom Pharmaceuticals click here. For more ratings news on Phathom Pharmaceuticals click here.

Shares of Phathom Pharmaceuticals closed at $41.13 yesterday.

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