Stocks · Healthcare · Biotechnology
Phathom Pharmaceuticals, Inc. PHAT
$6.92 -2.26% Close, Oct 2, 2026 · NASDAQ · Market cap $559.8M
High qualityWeak trendHigh risk
Next earnings report: Oct 29, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Revenue over the last four quarters was $239.7M, up 110.2% from a year earlier, slowing from 150.3% a quarter earlier.
- Operating margin widened to -17.0% from -235.9% a year earlier.
- The diluted share count rose 15.6% in a year.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 9%
- Revenue growth accelerationBottom 7%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 48%
- Gross marginTop 28%
- Operating marginBottom 44%
- Accruals (lower is better)Top 15%
- Interest coverTop 46%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 35%
- Free-cash-flow yieldBottom 45%
- EBITDA / enterprise valueBottom 46%
- Sales / enterprise valueTop 29%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 20%
- 6-month returnBottom 10%
- 1-year return vs S&P 500Bottom 13%
- Distance from 52-week highBottom 14%
- Trend checklist (0–4)Bottom 14%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 26%
- Consecutive EPS beatsBottom 20%
- Share of analysts rating BuyTop 29%
- Upside to consensus price targetTop 26%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 17%
- Maximum drawdown, 3 yearsBottom 19%
- Beta vs S&P 500 (lower is better)Bottom 13%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 150.3% | 110.2% | ↓ |
| Gross margin | 86.9% | 82.9% | ↓ |
| Operating margin | -235.9% | -17.0% | ↑ |
| FCF margin | -240.8% | -15.3% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 110.2% | 150.3% | ↓ | Top 9% |
| Gross margin | 82.9% | 86.9% | ↓ | Top 28% |
| Operating margin | -17.0% | -235.9% | ↑ | Bottom 44% |
| Net margin | -41.3% | -289.5% | ↑ | — |
| Free-cash-flow margin | -15.3% | -240.8% | ↑ | — |
| Return on invested capital | -23.4% | — | Bottom 48% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -19.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 11.3%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -20.1 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -0.6×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -22.51%
- Shareholder yield
- -22.51%
- Share count change, 1 year
- +15.6%
- Share count change, 3-year CAGR
- +20.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 30, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- -12.5%
- Average 2-day reaction, last 8
- -4.1%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $17.60
- Target vs current price
- +154.3%
- Analysts with a rating
- 9
- Share rating Buy or Strong Buy
- 89%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | -19.6% | -22.4% | -29.3% | -24.7% | — |
| Apr 30, 2026 | -37.0% | -4.9% | +7.6% | -12.4% | +1.4% |
| Feb 26, 2026 | +9.2% | +10.1% | -10.2% | -15.0% | -6.0% |
| Oct 30, 2025 | -2.5% | -1.6% | -1.8% | +12.1% | +5.2% |
| Aug 7, 2025 | -3.9% | +8.3% | +20.7% | +38.2% | +53.3% |
| May 1, 2025 | -0.9% | -21.7% | -44.1% | +0.5% | +105.1% |
| Mar 6, 2025 | +38.8% | -3.0% | -17.8% | -9.7% | -30.1% |
| Nov 7, 2024 | +15.9% | +2.8% | -45.8% | -52.8% | -64.8% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | -$0.21 | -$0.18 | -19.6% | $74.3M |
| Apr 30, 2026 | -$0.37 | -$0.27 | -37.0% | $58.3M |
| Feb 26, 2026 | -$0.29 | -$0.32 | +9.2% | $57.6M |
| Oct 30, 2025 | -$0.41 | -$0.40 | -2.5% | $49.5M |
| Aug 7, 2025 | -$0.79 | -$0.76 | -3.9% | $39.5M |
| May 1, 2025 | -$1.07 | -$1.06 | -0.9% | $28.5M |
| Mar 6, 2025 | -$0.79 | -$1.29 | +38.8% | $29.7M |
| Nov 7, 2024 | -$1.32 | -$1.57 | +15.9% | $16.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 2.27× | — | — | Top 29% |
| Free-cash-flow yield | -6.56% | — | — | Bottom 45% |
| Earnings yield | -18.50% | — | — | Bottom 35% |
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -13.5%
- 200-day average slope (20 days)
- -5.7%
- Distance from 50-day average
- -20.6%
- Distance from 200-day average
- -39.3%
- RSI (14)
- 32.5
- Relative volume
- 1.30×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 80.8%
- Volatility vs own 5-year history
- 61th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.03
- Correlation with S&P 500
- 0.26
- Current drawdown from 1-year high
- -61.7%
- Maximum drawdown, 3 years
- -88.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 15, 2020 | May 8, 2025 | -95.4% | 1103 days | Not yet recovered |
| Dec 8, 2020 | Dec 14, 2020 | -10.8% | 4 days | 1 days (Dec 15, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $559.8M
- EPS, diluted (TTM)
- -$1.28
- Revenue (TTM)
- $239.7M
- 52-week range
- $6.82 – $18.31
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $682,000 | $55.3M | $175.1M |
| Gross profit | -$521,000 | -$620,000 | $515,000 | $47.3M | $152.5M |
| Operating income | -$135.1M | -$172.4M | -$167.3M | -$277.5M | -$160.0M |
| Net income | -$143.9M | -$197.7M | -$201.6M | -$334.3M | -$221.2M |
| EPS (diluted) | -$4.00 | -$5.70 | -$3.93 | -$5.29 | -$3.03 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.4M | $29.7M | $28.5M | $39.5M | $49.5M | $57.6M | $58.3M | $74.3M |
| Net income | -$85.6M | -$74.5M | -$94.3M | -$75.8M | -$30.0M | -$21.1M | -$30.4M | -$17.6M |
| EPS (diluted) | -$1.32 | -$1.05 | -$1.31 | -$1.05 | -$0.41 | -$0.29 | -$0.37 | -$0.21 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$148.5M | -$146.5M | -$137.6M | -$266.8M | -$166.8M |
| Capital expenditure | -$328,000 | -$1.0M | -$1.6M | -$135,000 | -$229,000 |
| Free cash flow | -$148.8M | -$147.6M | -$139.2M | -$266.9M | -$166.8M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $0 | $24.6M | $155.5M | $121.8M | $1.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $182.5M
- Total assets
- $327.1M
- Total liabilities
- $671.3M
- Total debt
- $167.1M
- Net debt
- -$15.4M
- Shareholders’ equity
- -$344.3M
As of Jun 30, 2026 (filed Jul 30, 2026).
Short interest
- Shares sold short
- 10,157,209
- Days to cover
- 9.11
- Change vs previous report
- -6.2%
FINRA short interest, settlement date Sep 15, 2026.