PHAT Stock Analysis: Phathom Pharmaceuticals | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 503m USD | 12M Return: -57.9% | US71722W1071 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.4M
Qual. Beats: 0
Rev. Trend: 94.8%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 6.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Phathom Pharmaceuticals (NASDAQ: PHAT) is a U.S.-based biopharmaceutical company founded in 2018 and headquartered in Florham Park, New Jersey, that focuses on developing and commercializing treatments for gastrointestinal diseases. Its lead product, VOQUEZNA (vonoprazan), has completed Phase III clinical trials for erosive GERD and related heartburn in adults, while VOQUEZNA Triple Pak and VOQUEZNA Dual Pak have also completed Phase III trials for treating Helicobacter pylori infections. The company is additionally developing vonoprazan-based therapies for non-erosive GERD and eosinophilic esophagitis in adults and adolescents.
As a clinical-stage specialty biopharmaceutical company listed on NASDAQ since its October 2019 IPO, Phathom operates within the high-risk, capital-intensive biopharma sector, where value is largely driven by the outcome of late-stage clinical trials and subsequent FDA approval. Its narrow therapeutic focus on gastrointestinal disorders reflects a common specialty pharma strategy of targeting specific disease areas to differentiate from larger diversified pharmaceutical competitors.
- VOQUEZNA prescription growth accelerates commercial launch trajectory
- Cash burn and dilution risk pressure equity valuation
- Generic PPI competition limits VOQUEZNA pricing power
| Net Income: -99.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.11 > 0.02 and ΔFCF/TA 98.53 > 1.0 |
| NWC/Revenue: 59.31% < 20% (prev 111.4%; Δ -52.10% < -1%) |
| CFO/TA -0.11 > 3% & CFO -36.7m > Net Income -99.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.92 > 1.5 & < 3 |
| Outstanding Shares: last quarter (83.7m) vs 12m ago 15.57% < -2% |
| Gross Margin: 82.92% > 18% (prev 86.91%; Δ -3.98% > 0.5%) |
| Asset Turnover: 83.03% > 50% (prev 45.58%; Δ 37.45% > 0%) |
| Interest Coverage Ratio: -0.56 > 6 (EBIT TTM -35.6m / Interest Expense TTM 63.4m) |
| A: 0.43 (Total Current Assets 295.9m - Total Current Liabilities 153.8m) / Total Assets 327.1m |
| B: -4.68 (Retained Earnings -1.53b / Total Assets 327.1m) |
| C: -0.12 (EBIT TTM -35.6m / Avg Total Assets 288.6m) |
| D: -0.51 (Book Value of Equity -344.3m / Total Liabilities 671.3m) |
| Altman-Z'' = -13.79 = D |
| DSRI: 0.90 (Receivables 97.4m/51.3m, Revenue 239.7m/114.0m) |
| GMI: 1.05 (GM 86.91% / 82.92%) |
| AQI: 0.73 (AQ_t 0.08 / AQ_t-1 0.12) |
| SGI: 2.10 (Revenue 239.7m / 114.0m) |
| TATA: -0.19 (NI -99.1m - CFO -36.7m) / TA 327.1m) |
| Beneish M = -2.45 (Cap -4..+1) = BBB |
As of November 05, 2026, the stock is trading at USD 5.68 with a total of 1,504,074 shares traded. Over the past week, the price has changed by -9.55%, over one month by -15.22%, over three months by -32.78% and over the past year by -57.89%.
Current recommended Stop Loss: 4.90 (which is 13.7% or 1.4 ATR below the current price).
Phathom Pharmaceuticals has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy PHAT.
- StrongBuy: 8
- Buy: 2
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 19.6 | 245.8% |
P/E Forward = 5.9137
P/S = 2.0996
P/B = 25.3678
Revenue TTM = 239.7m USD
EBIT TTM = -35.6m USD
EBITDA TTM = -35.1m USD
Long Term Debt = 164.6m USD (from longTermDebt, last quarter)
Short Term Debt = 670k USD (from shortTermDebt, last quarter)
Debt = 169.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 2.52m
Net Debt = -12.8m USD (calculated: Debt 169.6m - CCE 182.5m)
Enterprise Value = 490.4m USD (503.2m + Debt 169.6m - CCE 182.5m)
Interest Coverage Ratio = -0.56 (Ebit TTM -35.6m / Interest Expense TTM 63.4m)
EV/FCF = -13.36x (Enterprise Value 490.4m / FCF TTM -36.7m)
FCF Yield = -7.49% (FCF TTM -36.7m / Enterprise Value 490.4m)
FCF Margin = -15.32% (FCF TTM -36.7m / Revenue TTM 239.7m)
Net Margin = -41.34% (Net Income TTM -99.1m / Revenue TTM 239.7m)
Gross Margin = 82.92% ((Revenue TTM 239.7m - Cost of Revenue TTM 40.9m) / Revenue TTM)
Gross Margin QoQ = 79.68% (prev 79.42%)
Tobins Q-Ratio = 1.50 (Enterprise Value 490.4m / Total Assets 327.1m)
Interest Expense / Debt = 37.39% (Interest Expense 63.4m / Debt 169.6m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -28.2m (EBIT -35.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.92 (Total Current Assets 295.9m / Total Current Liabilities 153.8m)
Debt / Equity = -0.49 (negative equity) (Debt 169.6m / totalStockholderEquity, last quarter -344.3m)
Debt / EBITDA = 0.37 (negative EBITDA) (Net Debt -12.8m / EBITDA -35.1m)
Debt / FCF = 0.35 (negative FCF - burning cash) (Net Debt -12.8m / FCF TTM -36.7m)
Total Stockholder Equity = -385.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -34.32% (Net Income -99.1m / Total Assets 327.1m)
RoE = 25.70% (negative equity) (Net Income TTM -99.1m / Total Stockholder Equity -385.5m)
RoCE = 16.14% (negative capital employed) (EBIT -35.6m / Capital Employed (Equity -385.5m + L.T.Debt 164.6m))
RoIC = -17.38% (negative operating profit) (NOPAT -28.2m / Invested Capital 162.0m)
WACC = 14.08% (E(503.2m)/V(672.8m) * Re(8.87%) + D(169.6m)/V(672.8m) * Rd(37.39%) * (1-Tc(0.21)))
Discount Rate = 8.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.91 | Cagr: 17.40%
[DCF] Fair Price = unknown (Cash Flow -36.7m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.13 | # QB: 0
Revenue Correlation: 94.76 | Revenue CAGR: 1.50k% | SUE: 0.93 | # QB: 1
EPS current Quarter (2027-03-31): EPS=0.01 | Chg30d=-81.57% | Revisions=-40% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.04 | Chg30d=N/A | Revisions=-25% | GrowthEPS=+97.9% | GrowthRev=+80.0%
EPS next Year (2027-12-31): EPS=0.96 | Chg30d=-10.41% | Revisions=+0% | GrowthEPS=+2300.5% | GrowthRev=+55.2%
[Analyst] Revisions Ratio: -50% (up=0, down=3)