Buy Rating Justified by Strong Market Acceptance of Phathom Pharmaceuticals’ V oquezna

In a report released today, Joseph Stringer from Needham maintained a Buy rating on Phathom Pharmaceuticals (PHAT – Research Report), with a price target of $26.00.

Joseph Stringer has given his Buy rating due to a combination of factors surrounding the performance of Phathom Pharmaceuticals’ product, V oquezna. The prescription data for V oquezna, used to treat Erosive GERD and H. pylori infection, shows a positive trend since its launch in the U.S. market. Despite the fact that the data from IQVIA does not account for all total prescriptions, given that it excludes transactions through BlinkRx, a patient assistance program, the trajectory is still notably upward.

Stringer’s optimism is further supported by the product’s strong performance in the most recent week for which data is available. This upward trend suggests a robust market acceptance and a growing user base for V oquezna. The ongoing increase in prescriptions is a key indicator of commercial success and potential revenue growth for Phathom Pharmaceuticals, justifying the Buy rating for the company’s stock.

According to TipRanks, Stringer is a 2-star analyst with an average return of -0.1% and a 37.20% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Phathom Pharmaceuticals, Pliant Therapeutics, and Gilead Sciences.

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Phathom Pharmaceuticals (PHAT) Company Description:

Phathom Pharmaceuticals, Inc. is a biopharmaceutical company, which focuses on the development and commercialization of novel treatments for gastrointestinal diseases and disorders. It develops Vonoprazan, a potassium-competitive acid blocker. The company was founded by Tadataka Yamada, David Socks, Azmi Nabulsi, Aditya Kohli, and Roger Ulrich on January 9, 2018 and is headquartered in Buffalo Grove, IL.