Phathom Pharmaceuticals initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Matthew Caufield initiated coverage of Phathom Pharmaceuticals with a Buy rating and $28 price target. The company’s lead asset vonoprazan acts as an oral tablet small molecule potassium-competitive acid blocker, intended as a novel approach to blocking acid secretion in the stomach, the analyst tells investors in a research note. The firm likes vonoprazan in gastrointestinal disease.