Craig-Hallum raised the firm’s price target on Phathom Pharmaceuticals (PHAT) to $17 from $12 and keeps a Buy rating on the shares. The firm cites the FDA’s decision to grant Phathom’s Citizen Petition, confirming that Voquezna tablets are entitled to 10 years of exclusivity under GAIN, pushing LOE to May 2032. With an expected 6-month pediatric extension, exclusivity would run through late 2032. This decision eliminates a key overhang and limits the ability for generic filers to enter the market early, Craig-Hallum notes.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PHAT:
- Phathom Pharmaceuticals Receives Buy Rating Amidst FDA Approval and Market Optimism for VOQUEZNA
- Phathom Pharmaceuticals Gains FDA Approval for VOQUEZNA® Exclusivity
- Phathom Pharmaceuticals Gains Momentum with FDA Approval and Market Exclusivity for Voquezna
- Needham sees FDA’s positive CP ruling as best-case outcome for Phathom
- Phathom Pharmaceuticals price target raised to $29 from $23 at Cantor Fitzgerald
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue