In a report released today, Joseph Stringer from Needham maintained a Buy rating on Phathom Pharmaceuticals, with a price target of $28.00.
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Joseph Stringer has given his Buy rating due to a combination of factors including Phathom Pharmaceuticals’ recent financial performance and future revenue projections. The company reported second-quarter revenue for Voquezna that exceeded the FactSet consensus, indicating strong market performance. Additionally, Phathom provided an annual revenue guidance that surpassed both the analyst’s previous estimates and the FactSet consensus, suggesting a positive outlook for the company’s growth.
Stringer was particularly encouraged by management’s comments on expected revenue acceleration in the coming quarters, driven by increased commercial efforts and growing traction with gastrointestinal specialists. Furthermore, management’s reiteration of achieving non-GAAP operating profitability by 2026 adds to the positive sentiment. The analyst believes that the current market capitalization undervalues Voquezna’s revenue potential, making Phathom Pharmaceuticals an attractive investment opportunity.