BMO Capital Maintains Outperform Rating for Phathom Pharmaceuticals: Here's What You Need To Know

BMO Capital has decided to maintain its Outperform rating of Phathom Pharmaceuticals PHAT and lower its price target from $38.00 to $35.00.

Shares of Phathom Pharmaceuticals are trading down 32.78% over the last 24 hours, at $8.06 per share.

A move to $35.00 would account for a 334.24% increase from the current share price.

About Phathom Pharmaceuticals

Phathom Pharmaceuticals Inc operates as a clinical-stage biopharmaceutical company. The firm is focused on developing and commercializing novel treatments for gastrointestinal, or GI, diseases. Its product comprises vonoprazan, an oral small molecule potassium competitive acid blocker medicine that blocks acid secretion in the stomach. Vonoprazan shows rapid, potent, and durable anti-secretory effects and has demonstrated clinical benefits in the treatment of gastroesophageal reflux disease, and in combination with antibiotics for the treatment of Helicobacter pylori infection.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.