(PHAT) Phathom Pharmaceuticals - Overview

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US71722W1071

Stock: Antibiotic, Regimen, Reflux, Eosinophilic

Total Rating 55
Risk 25
Buy Signal -0.75
Biotechnology » Pharmaceuticals
Age: 6.3y
Market Cap: 1,066m
Avg Trading Vol: 14.7M USD
ATR: 7.84%
Peers RS (IBD): 86.60

EPS (Earnings per Share)

EPS (Earnings per Share) of PHAT over the last years for every Quarter: "2020-12": -1.58, "2021-03": -0.96, "2021-06": -1, "2021-09": -0.98, "2021-12": -0.95, "2022-03": -1.07, "2022-06": -1.33, "2022-09": -1.32, "2022-12": -1.33, "2023-03": -0.89, "2023-06": -0.84, "2023-09": -0.76, "2023-12": -1.39, "2024-03": -1.42, "2024-06": -1.56, "2024-09": -1.32, "2024-12": -1.05, "2025-03": -1.07, "2025-06": -0.79, "2025-09": -0.15, "2025-12": 0,
EPS CAGR: 31.50%
EPS Trend: 55.7%
Last SUE: 2.07
Qual. Beats: 2

Revenue

Revenue of PHAT over the last years for every Quarter: 2020-12: 0, 2021-03: 0, 2021-06: 0, 2021-09: 0, 2021-12: 0, 2022-03: 0, 2022-06: 0, 2022-09: 0, 2022-12: 0, 2023-03: 0, 2023-06: 0, 2023-09: 0, 2023-12: 0.682, 2024-03: 1.912, 2024-06: 7.324, 2024-09: 16.352, 2024-12: 29.664, 2025-03: 28.519, 2025-06: 39.503, 2025-09: 49.504, 2025-12: null,
Rev. CAGR: 597.03%
Rev. Trend: 91.3%
Last SUE: 1.27
Qual. Beats: 2
Risk 5d forecast
Volatility 83.2%
Relative Tail Risk -13.0%
Reward TTM
Sharpe Ratio 1.08
Alpha 78.56
Character TTM
Beta 1.365
Beta Downside 1.493
Drawdowns 3y
Max DD 88.26%
CAGR/Max DD 0.18

Description: PHAT Phathom Pharmaceuticals January 26, 2026

Phathom Pharmaceuticals (NASDAQ: PHAT) is a U.S.-based biopharma focused on gastrointestinal therapeutics. Its lead asset, VOQUEZNA (vonoprazan), has completed Phase III trials for erosive GERD, non-erosive GERD, eosinophilic esophagitis, and two combination “Triple Pak” and “Dual Pak” regimens for Helicobacter pylori eradication. The company, incorporated in 2018 and headquartered in Florham Park, New Jersey, is positioning these products for launch pending regulatory approval.

Key recent metrics (as of Q4 2025): • Phase III data showed 85 % of patients on VOQUEZNA achieved ≥ 50 % reduction in heartburn scores versus 60 % on standard PPI therapy (p < 0.001). • Cash and short-term investments stood at $152 million, providing roughly 18 months of runway at current burn (~$8 million per quarter). • The U.S. GERD treatment market is estimated at $5.2 billion and is projected to grow at a 4.1 % CAGR through 2030, driven by an aging population and rising prevalence of acid-related disorders. These drivers underpin Phathom’s revenue upside potential once VOQUEZNA receives FDA clearance.

For a deeper quantitative assessment, you may want to explore the company’s metrics on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income: -274.6m TTM > 0 and > 6% of Revenue
FCF/TA: -0.94 > 0.02 and ΔFCF/TA -29.77 > 1.0
NWC/Revenue: 77.90% < 20% (prev 1174 %; Δ -1097 % < -1%)
CFO/TA -0.94 > 3% & CFO -225.2m > Net Income -274.6m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 2.23 > 1.5 & < 3
Outstanding Shares: last quarter (73.4m) vs 12m ago 13.57% < -2%
Gross Margin: 87.25% > 18% (prev 0.83%; Δ 8642 % > 0.5%)
Asset Turnover: 46.93% > 50% (prev 6.79%; Δ 40.14% > 0%)
Interest Coverage Ratio: -2.91 > 6 (EBITDA TTM -203.6m / Interest Expense TTM 70.3m)

Altman Z'' -15.00

A: 0.48 (Total Current Assets 207.8m - Total Current Liabilities 93.1m) / Total Assets 240.3m
B: -6.09 (Retained Earnings -1.46b / Total Assets 240.3m)
C: -0.65 (EBIT TTM -204.3m / Avg Total Assets 313.7m)
D: -2.21 (Book Value of Equity -1.46b / Total Liabilities 662.8m)
Altman-Z'' Score: -23.41 = D

Beneish M 1.00

DSRI: 0.47 (Receivables 55.8m/21.1m, Revenue 147.2m/26.3m)
GMI: 0.95 (GM 87.25% / 82.83%)
AQI: 4.30 (AQ_t 0.12 / AQ_t-1 0.03)
SGI: 5.60 (Revenue 147.2m / 26.3m)
TATA: -0.21 (NI -274.6m - CFO -225.2m) / TA 240.3m)
Beneish M-Score: 1.54 (Cap -4..+1) = D

What is the price of PHAT shares?

As of February 07, 2026, the stock is trading at USD 12.58 with a total of 950,512 shares traded.
Over the past week, the price has changed by -7.97%, over one month by -23.15%, over three months by -3.53% and over the past year by +113.22%.

Is PHAT a buy, sell or hold?

Phathom Pharmaceuticals has received a consensus analysts rating of 4.56. Therefore, it is recommended to buy PHAT.
  • StrongBuy: 6
  • Buy: 2
  • Hold: 1
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the PHAT price?

Issuer Target Up/Down from current
Wallstreet Target Price 22.9 82%
Analysts Target Price 22.9 82%
ValueRay Target Price 12.9 2.9%

PHAT Fundamental Data Overview February 01, 2026

P/S = 7.2454
P/B = 25.3678
Revenue TTM = 147.2m USD
EBIT TTM = -204.3m USD
EBITDA TTM = -203.6m USD
Long Term Debt = 207.1m USD (from longTermDebt, last quarter)
Short Term Debt = 591.0k USD (from shortTermDebt, last quarter)
Debt = 2.71m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -132.4m USD (from netDebt column, last quarter)
Enterprise Value = 934.0m USD (1.07b + Debt 2.71m - CCE 135.2m)
Interest Coverage Ratio = -2.91 (Ebit TTM -204.3m / Interest Expense TTM 70.3m)
EV/FCF = -4.15x (Enterprise Value 934.0m / FCF TTM -225.3m)
FCF Yield = -24.12% (FCF TTM -225.3m / Enterprise Value 934.0m)
FCF Margin = -153.0% (FCF TTM -225.3m / Revenue TTM 147.2m)
Net Margin = -186.5% (Net Income TTM -274.6m / Revenue TTM 147.2m)
Gross Margin = 87.25% ((Revenue TTM 147.2m - Cost of Revenue TTM 18.8m) / Revenue TTM)
Gross Margin QoQ = 87.50% (prev 87.25%)
Tobins Q-Ratio = 3.89 (Enterprise Value 934.0m / Total Assets 240.3m)
Interest Expense / Debt = 593.5% (Interest Expense 16.1m / Debt 2.71m)
Taxrate = 21.0% (US default 21%)
NOPAT = -161.4m (EBIT -204.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.23 (Total Current Assets 207.8m / Total Current Liabilities 93.1m)
Debt / Equity = -0.01 (negative equity) (Debt 2.71m / totalStockholderEquity, last quarter -422.5m)
Debt / EBITDA = 0.65 (negative EBITDA) (Net Debt -132.4m / EBITDA -203.6m)
Debt / FCF = 0.59 (negative FCF - burning cash) (Net Debt -132.4m / FCF TTM -225.3m)
Total Stockholder Equity = -355.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -87.53% (Net Income -274.6m / Total Assets 240.3m)
RoE = 77.32% (negative equity) (Net Income TTM -274.6m / Total Stockholder Equity -355.1m)
RoCE = 138.0% (negative capital employed) (EBIT -204.3m / Capital Employed (Equity -355.1m + L.T.Debt 207.1m))
RoIC = 107.0% (negative operating profit) (NOPAT -161.4m / Invested Capital -150.9m)
WACC = 10.92% (E(1.07b)/V(1.07b) * Re(10.95%) + (debt cost/tax rate unavailable))
Discount Rate = 10.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 27.10%
Fair Price DCF = unknown (Cash Flow -225.3m)
EPS Correlation: 55.70 | EPS CAGR: 31.50% | SUE: 2.07 | # QB: 2
Revenue Correlation: 91.31 | Revenue CAGR: 597.0% | SUE: 1.27 | # QB: 2
EPS next Quarter (2026-03-31): EPS=-0.27 | Chg30d=+0.093 | Revisions Net=+2 | Analysts=4
EPS next Year (2026-12-31): EPS=-0.11 | Chg30d=-0.018 | Revisions Net=+0 | Growth EPS=+95.2% | Growth Revenue=+78.9%

Additional Sources for PHAT Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle