PHAT

Company Overview — What Does Phathom Pharmaceuticals, Inc. Do?

Phathom Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach. It is also developing vonoprazan, which is in Phase III clinical trials for the treatment of erosive gastroesophageal reflux disease; and in combination with antibiotics for the treatment of Helicobacter pylori infection. Phathom Pharmaceuticals, Inc. was incorporated in 2018 and is headquartered in Florham Park, New Jersey. Phathom Pharmaceuticals, Inc. (PHAT) is classified as a small-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Terrie Curran and employs approximately 110 people. With a market capitalization of $878M, PHAT is one of the notable companies in the Healthcare sector.

Phathom Pharmaceuticals, Inc. (PHAT) Stock Rating — Reduce (April 2026)

As of April 2026, Phathom Pharmaceuticals, Inc. receives a Reduce rating with a composite score of 31.4/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.PHAT ranks #3,694 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Phathom Pharmaceuticals, Inc. ranks #609 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

PHAT Stock Price and 52-Week Range

Phathom Pharmaceuticals, Inc. (PHAT) currently trades at $12.50. The stock lost $0.14 (1.1%) in the most recent trading session. The 52-week high for PHAT is $18.31, which means the stock is currently trading -31.7% from its annual peak. The 52-week low is $2.21, putting the stock 465.6% above its annual trough. Recent trading volume was 1.4M shares, reflecting moderate market activity.

Is PHAT Overvalued or Undervalued? — Valuation Analysis

Phathom Pharmaceuticals, Inc. (PHAT) carries a value factor score of 20/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-sales ratio is 6.80x, compared to 1.66x for the average Healthcare stock.

At current multiples, Phathom Pharmaceuticals, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Phathom Pharmaceuticals, Inc. Profitability — ROE, Margins, and Quality Score

Phathom Pharmaceuticals, Inc. (PHAT) earns a quality factor score of 20/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 90.1%, compared to the Healthcare sector average of -43.5%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at -110.2% versus the sector average of -33.1%.

On a margin basis, Phathom Pharmaceuticals, Inc. reports gross margins of 86.8%, compared to 71.5% for the sector. The operating margin is -223.0% (sector: -66.1%). Net profit margin stands at -276.6%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 575.9% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

PHAT Debt, Balance Sheet, and Financial Health

Phathom Pharmaceuticals, Inc. has a debt-to-equity ratio of -49.0%, compared to the Healthcare sector average of 32.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 1.73x, suggesting adequate working capital coverage. Total debt on the balance sheet is $209M. Cash and equivalents stand at $135M.

PHAT has a beta of 1.32, meaning it is more volatile than the broader market — a $10,000 investment in PHAT would be expected to move 32.0% more than the S&P 500 on any given day. The stability factor score for Phathom Pharmaceuticals, Inc. is 23/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Phathom Pharmaceuticals, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Phathom Pharmaceuticals, Inc. reported revenue of $134M and earnings per share (EPS) of $-3.03. Net income for the quarter was $-286M. Gross margin was 86.8%. Operating income came in at $-225M.

In FY 2025, Phathom Pharmaceuticals, Inc. reported revenue of $175M and earnings per share (EPS) of $-3.03. Net income for the quarter was $-221M. Gross margin was 87.1%. Revenue grew 216.9% year-over-year compared to FY 2024. Operating income came in at $-160M.

In Q3 2025, Phathom Pharmaceuticals, Inc. reported revenue of $50M and earnings per share (EPS) of $-0.41. Net income for the quarter was $-30M. Gross margin was 87.5%. Revenue grew 202.7% year-over-year compared to Q3 2024. Operating income came in at $-15M.

In Q2 2025, Phathom Pharmaceuticals, Inc. reported revenue of $40M and earnings per share (EPS) of $-1.05. Net income for the quarter was $-76M. Gross margin was 87.3%. Revenue grew 439.4% year-over-year compared to Q2 2024. Operating income came in at $-60M.

Over the past 8 quarters, Phathom Pharmaceuticals, Inc. has demonstrated a growth trajectory, with revenue expanding from $7M to $134M. Investors analyzing PHAT stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

PHAT Dividend Yield and Income Analysis

Phathom Pharmaceuticals, Inc. (PHAT) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

PHAT Momentum and Technical Analysis Profile

Phathom Pharmaceuticals, Inc. (PHAT) has a momentum factor score of 52/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 20/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 51/100 reflects moderate short selling activity.

PHAT vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Phathom Pharmaceuticals, Inc. (PHAT) ranks #609 out of 838 stocks based on the Blank Capital composite score. This places PHAT in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing PHAT against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full PHAT vs S&P 500 (SPY) comparison to assess how Phathom Pharmaceuticals, Inc. stacks up against the broader market across all factor dimensions.

PHAT Next Earnings Date

No upcoming earnings date has been announced for Phathom Pharmaceuticals, Inc. (PHAT) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy PHAT? — Investment Thesis Summary

The quantitative profile for Phathom Pharmaceuticals, Inc. suggests caution. The quality score of 20/100 flags below-average profitability. The value score of 20/100 indicates premium valuation. High volatility (stability score 23/100) increases portfolio risk.

In summary, Phathom Pharmaceuticals, Inc. (PHAT) earns a Reduce rating with a composite score of 31.4/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on PHAT stock.

Related Resources for PHAT Investors

Explore more research and tools: PHAT vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare PHAT head-to-head with peers: PHAT vs AZN, PHAT vs SLGL, PHAT vs VMD.