UPDATE: BMO Capital Starts Phathom Pharmaceuticals (PHAT) at Outperform

February 17, 2021 4:39 AM EST
Get Alerts PHAT Hot Sheet
Price: $37.00 -3.52%

Rating Summary:
    6 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 22 | New: 25
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(Updated - February 17, 2021 5:02 AM EST)

BMO Capital analyst Gary Nachman initiates coverage on Phathom Pharmaceuticals (NASDAQ: PHAT) with a Outperform rating and a price target of $63.00.

The analyst comments "We’re initiating Phathom at Outperform and $63 target. Phathom is an exciting pureplay in gastroenterology (GI) with major catalysts this year. Vonoprazan Ph3 data for H. Pylori (HP) in 2Q21 and gastroesophageal reflux disorder (GERD) in 2H21 could show meaningful improvement over standard-of-care PPIs with its unique mechanism, addressing significant unmet needs in those large markets. Vonoprazan is considerably de-risked from clinical/regulatory and commercial perspectives given great success in Japan. We see compelling valuation with positive physician feedback and market model supporting $1.7bn revenue in 2030 with just modest penetration."

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 $42.80 yesterday.


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