UPDATE: Goldman Sachs Upgrades Phathom Pharmaceuticals (PHAT) to Neutral

May 12, 2021 2:37 AM EDT
Get Alerts PHAT Hot Sheet
Price: $35.05 +0.78%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 5 | New: 41
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(Updated - May 12, 2021 4:22 AM EDT)

Goldman Sachs analyst Paul Choi upgraded Phathom Pharmaceuticals (NASDAQ: PHAT) from Sell to Neutral with a price target of $48.00 (from $40.00).

The analyst comments "Since adding the stock to the Sell list on June 26, 2020 (link), PHAT shares are down -4% versus +60% for the Russell 2000, and +13% for the XBI. In our view, the relative underperformance has broadly captured the widely positive expectations for the upcoming Phase 3 data. Recall, PHAT is investigating vonoprazan in the US/EU for the treatment of erosive esophagitis (EE) and H. pylori though the asset has been largely de-risked from a clinical perspective as it posted positive Phase 3 data from Japan studies and is already approved in that market."

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 $34.09 yesterday.

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