Phathom Pharmaceuticals (NASDAQ:PHAT) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS
by Teresa Graham · The Cerbat GemPhathom Pharmaceuticals (NASDAQ:PHAT – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01), FiscalAI reports. The company had revenue of $58.30 million during the quarter, compared to analyst estimates of $58.62 million.
Here are the key takeaways from Phathom Pharmaceuticals’ conference call:
- Phathom reported Q1 net revenue of $58.3 million, up 104% year‑over‑year, and is maintaining 2026 guidance of $320–$345 million with revenues expected to be back‑half weighted.
- Commercial momentum: the sales force was expanded to nearly 290+ reps, and management highlighted strong adoption among gastroenterologists—top 300 GIs show ~20% TRX share and ~45% NBRX versus PPIs, signaling deeper penetration and new‑patient starts.
- Financial discipline and runway: Q1 cash operating expenses (ex‑stock comp) were $56.2M (down ~43% YoY), loss from operations ex‑SBC ~$9.9M, ending cash of ~$181M, and the company expects operating profitability ex‑SBC by Q3 and positive cash flow in 2027.
- Pipeline progress: the eosinophilic esophagitis (EoE) Phase II trial is enrolling ahead of schedule with topline data anticipated in late Q4 2026 or early Q1 2027, which could expand Voquezna’s indications if positive.
- Competitive risk: management is preparing for a potential second P‑CAB (tegoprazan) approval in 2027; although Phathom emphasizes Voquezna’s clinical profile, a new entrant could increase category competition and payer dynamics.
Phathom Pharmaceuticals Trading Down 4.9%
Shares of Phathom Pharmaceuticals stock traded down $0.58 on Thursday, reaching $11.20. 4,232,273 shares of the company were exchanged, compared to its average volume of 1,152,908. Phathom Pharmaceuticals has a one year low of $2.21 and a one year high of $18.31. The company has a market capitalization of $889.62 million, a price-to-earnings ratio of -3.66 and a beta of 0.61. The company has a 50-day moving average of $11.52 and a 200 day moving average of $13.42.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PHAT. Stifel Nicolaus set a $28.00 price target on Phathom Pharmaceuticals in a research report on Thursday, February 26th. Guggenheim upped their price target on Phathom Pharmaceuticals from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Phathom Pharmaceuticals in a research report on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Phathom Pharmaceuticals in a research report on Wednesday, January 14th. Finally, Barclays raised Phathom Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.
View Our Latest Report on PHAT
Institutional Investors Weigh In On Phathom Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in PHAT. Millennium Management LLC raised its stake in shares of Phathom Pharmaceuticals by 125.8% during the 3rd quarter. Millennium Management LLC now owns 5,081,451 shares of the company’s stock worth $59,809,000 after purchasing an additional 2,830,954 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of Phathom Pharmaceuticals during the 2nd quarter worth approximately $5,754,000. Invesco Ltd. raised its stake in shares of Phathom Pharmaceuticals by 13.4% during the 2nd quarter. Invesco Ltd. now owns 4,140,072 shares of the company’s stock worth $39,703,000 after purchasing an additional 489,260 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Phathom Pharmaceuticals by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,215,572 shares of the company’s stock worth $37,847,000 after purchasing an additional 428,261 shares in the last quarter. Finally, SummitTX Capital L.P. bought a new stake in shares of Phathom Pharmaceuticals during the 3rd quarter worth approximately $4,543,000. Institutional investors own 99.01% of the company’s stock.
Phathom Pharmaceuticals Company Profile
Phathom Pharmaceuticals is a clinical‐stage biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal (GI) diseases. The company’s core mission centers on addressing serious GI disorders by leveraging innovative mechanisms of action to improve patient outcomes. Phathom’s research and development efforts concentrate on conditions such as Helicobacter pylori infection, erosive esophagitis, gastroparesis and other functional GI disorders where significant unmet medical needs persist.
The company’s lead asset is vonoprazan, a potassium‐competitive acid blocker (P-CAB) licensed for use in the United States.