PHAT - Top Pick for 2024: Analyst Bullish On Phathom Pharmaceuticals On Voquezna Launch In Erosive GERD Projecting $55.6M In Sales | Benzinga
Needham analyst Joseph Stringer reiterated a Buy rating on Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT), raising the price target to $26 from $23.
"PHAT is our top pick for 2024", the analyst notes, adding it to the Needham Conviction List, replacing Vaxcyte, Inc. (NASDAQ: PCVX).
Per the analyst, PHAT shares will have a strong 2024 performance driven by the Voquezna launch in Erosive GERD (U.S. launch Dec 2023) and Voquezna U.S. approval and launch in Non-Erosive GERD (NERD) in 3Q24.
The analyst models $55.6 million in total Voquezna sales in 2024,