Phathom Pharmaceuticals price target raised to $17 from $12 at Craig-Hallum

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.