GBA BUY IDEA TODAY-- PHAT
-- WE COME UP WITH BUY POINTS AND WE SHOULD STICK TO THEM./ $14.50 IS THAT POINT FOR PHAT.
With a focus on gastrointestinal diseases,
Phathom Pharmaceuticals(NASDAQ:
PHAT) has been moving aggressively higher. In fact, since March, the stock ran from about $6 to $14.65 and could still see higher highs.
Not only did the U.S. FDA accept the company’s New Drug Application (NDA) resubmission for the treatment of erosive gastroesophageal reflux disease (GERD),
it set a PDUFA date on November 17. As we near that date, we expect PHAT to push even higher. The company does expect to launch the treatment for erosive GERD by the fourth quarter of the year, pending FDA approval.
We also have to consider the
global market could be worth as much as $5.95 billion by 2030. Plus,
about 14% of the global population is dealing with GERD at the moment, or about 1.03 billion people. Analysts at Needham have a Buy rating on the stock, with a $23 price target. The firm
also noted,“vonoprazan has the potential to be a best-in-class acid blocker and generate ~$675M U.S. peak sales in Erosive Esophagitis.”