Data as of:
LIVE
PHAT
Phathom Pharmaceuticals, Inc. · Healthcare - Specialty Pharmaceuticals
$7.48
-19.74% this month
VERSUS
COMPARE
ARWR
Arrowhead Pharmaceuticals, Inc. · Healthcare - RNA Interference (RNAi) Therapeutics
$66.48
-25.65% this month
Comparison scoreboard
PHAT LEADS 3/5AI Scorei
PHAT 25.2
ARWR ✓67.9
1Y Returni
PHAT -36.34%
ARWR ✓+110.98%
Fwd P/Ei
PHAT ✓8.34
ARWR -17.24
Target Up.i
PHAT ✓+132.18%
ARWR +32.77%
Op. Margini
PHAT ✓-5.34%
ARWR -226.03%
Metrics last refreshed: 9/20/2026
Quick take
PHAT vs ARWR Stock Comparison: AI Score, Valuation, Performance and Upside
PHAT (Phathom Pharmaceuticals) and ARWR (Arrowhead Pharmaceuticals) are both specialty pharma companies at different development stages — Phathom is commercial-stage with Voquezna (vonoprazan) launched in the U.S. for acid-related diseases, fighting for formulary access against generic PPIs, while Arrowhead is clinical-stage with a broad RNAi pipeline partnered with J&J and AstraZeneca targeting cardiovascular and metabolic diseases. Phathom carries commercial execution risk; Arrowhead carries clinical development risk.
PHAT vs ARWR is commercial-stage P-CAB acid blocker facing formulary access headwinds (Phathom's Voquezna/vonoprazan seeking to displace entrenched generic PPIs in a massive acid reflux and H. pylori market) versus clinical-stage RNAi platform with major pharma validation (Arrowhead's gene silencing pipeline partnered with J&J and AstraZeneca targeting cardiovascular and metabolic disease with durable protein knockdown) — commercial launch risk versus binary clinical event risk.
Live analysis · updated 9/20/2026
PHAT holds the edge across 3 of 5 key metrics in this comparison. ARWR has delivered stronger 1-year price return (+110.98% vs -36.34%), though PHAT has the better forward P/E setup (8.34x vs -17.24x for ARWR). On fundamentals, ARWR is growing revenue faster (171.00%), while PHAT maintains the higher operating margin (-5.34%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for PHAT (+132.18%) than for ARWR (+32.77%).
Normalized 1Y performance
PHAT
ARWR
Recent returns
PHAT
ARWR
Analyst price targets & sentiment
Human Wall Street analysts' price targets, typically implying a ~12-month view — a separate signal from this site's own AI Prediction Signal further down the page, which is a 5-/30-day machine-learning forecast based on price history alone.
PHAT
Price target range
analyst mean$21.50
current price$7.48
+132.2% upside to analyst mean
ARWR
Price target range
analyst mean$110.00
current price$66.48
+32.8% upside to analyst mean
Who should consider this stock?
PHAT may suit investors who:
- Believe vonoprazan's clinical advantages over PPIs (faster onset, more complete acid suppression, better H. pylori eradication) will eventually translate into formulary wins and prescriber adoption despite generic PPI entrenchment
- Are willing to accept commercial launch risk and cash burn uncertainty in exchange for a revenue-generating specialty pharma with a differentiated product in the large acid reflux market
- See the successful P-CAB commercial track record in Japan (Takeda's Takecab) as de-risking the mechanism's clinical utility, with U.S. commercialization as the key remaining question
ARWR may suit investors who:
- Believe RNAi gene silencing represents a transformative therapeutic modality with applicability across cardiovascular, metabolic, and rare diseases, with Arrowhead's platform providing multiple clinical shots on goal
- Value the J&J and AstraZeneca partnership validation as de-risking Arrowhead's technology platform and providing non-dilutive capital to fund continued pipeline development
- Are comfortable with clinical-stage binary event risk and are positioned for multiple data readout catalysts that could rapidly re-rate Arrowhead's stock upon positive results
Performance & AI score
| Metric | PHAT | ARWR |
|---|---|---|
| AI scorei | 25.2 | 67.9 |
| AI ranki | #2895 | #57 |
| Latest closei | $7.48 | $66.48 |
| 1M returni | -19.74% | -25.65% |
| 6M returni | -33.27% | +18.02% |
| 1Y returni | -36.34% | +110.98% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | PHAT | ARWR |
|---|---|---|
| 1Y ago | $6.37K (-36.3%) started 2025-09-18 | $21.1K (+111.0%) started 2025-09-18 |
| 5Y ago | $2.28K (-77.2%) started 2021-09-20 | $10.65K (+6.5%) started 2021-09-20 |
| 10Y ago | $3.04K (-69.6%) started 2019-10-25 | $93.9K (+839.0%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | PHAT | ARWR |
|---|---|---|
| Market capi | $749.14M | $11.7B |
| Trailing P/Ei | N/A | N/A |
| Forward P/Ei | 8.34 | -17.24 |
| Price/Salesi | N/A | N/A |
| EV/Revenuei | 4.71 | 17.16 |
| Analyst targeti | $21.50 | $110.00 |
| Target upsidei | +132.18% | +32.77% |
Growth, profitability & risk
| Metric | PHAT | ARWR |
|---|---|---|
| Revenue growthi | 88.00% | 171.00% |
| Earnings growthi | N/A | N/A |
| EPS growthi | N/A | N/A |
| FCF margini | -13.61% | -7.26% |
| Operating margini | -5.34% | -226.03% |
| Profit margini | -41.34% | -47.79% |
| ROIC proxyi | N/A | -55.21% |
| Return on equityi | N/A | -55.21% |
| Dividend yieldi | N/A | N/A |
| Payout ratioi | 0.00% | 0.00% |
| Dividend growth streaki | N/A | N/A |
| Betai | 0.50 | 1.28 |
| Debt/equityi | N/A | 295.98 |
| Current ratioi | 1.92 | 5.90 |
| Quick ratioi | 1.82 | 5.71 |
Correlation
Over the past year, PHAT and ARWR have moved weakly in the same direction (correlation of 0.21), based on daily returns.
1Y
0.21
-1.0+1.0
5Y
0.26
-1.0+1.0
10Y
0.25
-1.0+1.0
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
PHAT max drawdowni58.63%
ARWR max drawdowni26.57%
PHAT max wkly dropi29.30%
ARWR max wkly dropi20.38%
5Y risk snapshot
PHAT max drawdowni93.09%
ARWR max drawdowni87.89%
PHAT max wkly dropi50.86%
ARWR max wkly dropi32.69%
10Y risk snapshot
PHAT max drawdowni95.81%
ARWR max drawdowni88.96%
PHAT max wkly dropi50.86%
ARWR max wkly dropi70.60%
Performance metrics by period
| Period | Metric | PHAT | ARWR |
|---|---|---|---|
| 1Y | Growthi | -36.34% | +110.98% |
| CAGRi | -36.36% | +111.09% | |
| Volatilityi | 64.44% | 62.03% | |
| Sharpe ratioi | -0.44 | 1.44 | |
| Sortino ratioi | -0.58 | 2.50 | |
| Max drawdowni | 58.63% | 26.57% | |
| Current drawdowni | 58.63% | 25.80% | |
| Avg drawdowni | 27.50% | 6.44% | |
| Ulcer Indexi | 32.85% | 9.13% | |
| Max daily dropi | 22.42% | 12.40% | |
| Max wkly dropi | 29.30% | 20.38% | |
| 5Y | Growthi | -77.23% | +6.54% |
| CAGRi | -25.64% | +1.28% | |
| Volatilityi | 94.20% | 64.89% | |
| Sharpe ratioi | 0.08 | 0.27 | |
| Sortino ratioi | 0.13 | 0.41 | |
| Max drawdowni | 93.09% | 87.89% | |
| Current drawdowni | 77.44% | 25.80% | |
| Avg drawdowni | 65.09% | 52.78% | |
| Ulcer Indexi | 66.67% | 57.95% | |
| Max daily dropi | 31.11% | 26.85% | |
| Max wkly dropi | 50.86% | 32.69% | |
| 10Y | Growthi | -69.59% | +838.98% |
| CAGRi | -15.85% | +25.11% | |
| Volatilityi | 91.43% | 74.13% | |
| Sharpe ratioi | 0.20 | 0.64 | |
| Sortino ratioi | 0.31 | 0.94 | |
| Max drawdowni | 95.81% | 88.96% | |
| Current drawdowni | 86.30% | 26.52% | |
| Avg drawdowni | 64.12% | 44.04% | |
| Ulcer Indexi | 69.12% | 51.72% | |
| Max daily dropi | 31.11% | 67.20% | |
| Max wkly dropi | 50.86% | 70.60% |
Business comparison
| Category | PHAT | ARWR |
|---|---|---|
| Company | Phathom Pharmaceuticals, Inc. | Arrowhead Pharmaceuticals, Inc. |
| Sector | Healthcare | Healthcare |
| Industry | Biotechnology | Biotechnology |
| Core business | Phathom Pharmaceuticals is a commercial-stage specialty pharmaceutical company focused on acid-related diseases. Phathom's lead product Voquezna (vonoprazan fumarate) is a potassium-competitive acid blocker (P-CAB) approved by the FDA for: erosive esophagitis (acid reflux causing esophageal damage), H. pylori (Helicobacter pylori) eradication (in combination with antibiotics), and on-demand treatment of heartburn. Vonoprazan was developed by Takeda Pharmaceutical in Japan (where it's marketed as Takecab) and licensed to Phathom for U.S. and European commercialization. P-CABs represent a newer class than traditional proton pump inhibitors (PPIs like omeprazole, pantoprazole) with potentially faster onset and more complete acid suppression. | Arrowhead Pharmaceuticals develops RNA interference (RNAi) therapeutics — drugs that silence specific disease-causing genes by targeting messenger RNA (mRNA) before it can produce disease-causing proteins. Arrowhead's clinical pipeline includes: JNJ-75220795 (fazirsiran — licensed to Johnson & Johnson) for alpha-1 antitrypsin deficiency (AATD) lung disease, ARO-APOC3 (olezarsen — licensed to AstraZeneca) for high triglycerides/hypertriglyceridemia, ARO-ANG3 for dyslipidemia, ARO-HIF2 for renal cell carcinoma, ARO-HSD for fatty liver disease, and multiple other RNAi programs. Arrowhead's SEQUOIA delivery platform enables subcutaneous injection of GalNAc-conjugated RNAi drugs targeting the liver. |
| Investor focus | Investors track Voquezna's commercial launch progress (prescription volume growth, formulary wins with health insurance payers), net product revenue trajectory, cash burn rate and funding runway, and the potential to penetrate the large PPI market with a differentiated mechanism. | Investors track Arrowhead's clinical pipeline milestone progression (Phase 2/3 data readouts), licensing deal structures and milestone payments from J&J and AstraZeneca, and the validation of RNAi as a therapeutic modality across cardiovascular and metabolic diseases. |
PHAT strengths
- P-CAB mechanism may offer clinical advantages over PPIs — vonoprazan's potassium-competitive mechanism provides faster onset of acid suppression and more complete inhibition at high gastric pH; these properties may translate to better H. pylori eradication rates and erosive esophagitis healing
- Large addressable market — acid-related diseases affect tens of millions of Americans; PPIs (Prilosec, Nexium, generic omeprazole) are among the most commonly used prescription and OTC medications globally; capturing even a small share of this market represents significant revenue potential
- H. pylori triple therapy indication provides a compelling entry point — H. pylori eradication requires a combination antibiotic regimen; Voquezna triple therapy (vonoprazan + amoxicillin + clarithromycin) or dual therapy may offer improved eradication rates over PPI-based regimens
ARWR strengths
- RNAi platform creates a 'gene knockdown' approach that can silence disease-causing proteins durably — one subcutaneous injection can silence a liver-expressed protein for months; dosing every 3-6 months is far more convenient than daily oral medications; durable silencing provides sustained efficacy
- Partnerships with J&J and AstraZeneca validate the platform and provide non-dilutive capital — major pharma partnerships signal scientific validation; licensing fees and milestone payments fund Arrowhead's pipeline without requiring constant equity dilution
- Multiple shots on goal across cardiovascular and metabolic diseases — Arrowhead's pipeline targets high-prevalence conditions (hypertriglyceridemia, fatty liver, alpha-1 antitrypsin deficiency) with significant unmet need; if RNAi works in one cardiovascular target, the platform applicability to others increases confidence
Risks to watch — PHAT
- Commercial execution is challenging against entrenched generic PPIs — generic omeprazole and pantoprazole cost pennies per tablet; Voquezna must justify significantly higher pricing to payers; insurance coverage (formulary placement) has been the major commercial headwind
- Cash burn from commercial launch requires continued capital access — building a commercial pharmaceutical business is capital intensive; Phathom has operated at significant losses since launch and requires continued financing
- PPI generic competition is deeply entrenched with proven physicians' familiarity — prescribers have used PPIs for decades; changing prescribing habits requires compelling clinical differentiation and strong sales force education
Risks to watch — ARWR
- Clinical-stage pipeline creates binary risk at every data readout — RNAi programs can and do fail in clinical trials; each Phase 2/3 data readout is a binary event; multiple program failures would severely impair Arrowhead's valuation and pipeline narrative
- Competition from established RNAi companies (Alnylam Pharmaceuticals) and other genetic medicine platforms — Alnylam is the RNAi market leader with approved products (Onpattro, Givlaari, Leqvio marketed by Novartis); new gene silencing modalities (gene editing, antisense oligonucleotides) compete for the same genetic disease targets
- Liver targeting limitation — Arrowhead's GalNAc conjugation approach primarily enables liver-targeted drug delivery; diseases requiring delivery to other tissues (lung, heart muscle, brain) are harder to address with current platform technology
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