Phathom Pharmaceuticals (PHAT) saw its stock surge 5.79% in pre-market trading on Friday, following the release of its third-quarter earnings report for 2025 and a positive analyst update. The biopharmaceutical company's shares responded favorably to what appears to be strong financial results and an improved outlook from Wall Street.

The company's Q3 earnings release, which came out late Thursday, seems to have impressed investors. While specific details were not provided, the report likely showcased significant growth and potentially better-than-expected performance for Phathom Pharmaceuticals. This positive financial data appears to be a key driver behind the stock's pre-market rally.

Adding to the bullish sentiment, H.C. Wainwright raised its target price for Phathom Pharmaceuticals from $20 to $26, representing a substantial increase in their valuation of the company. Furthermore, HC Wainwright & Co. maintained its "Buy" rating on the stock, reinforcing confidence in Phathom's future prospects. These analyst actions suggest that Wall Street sees potential for further growth and value creation in Phathom Pharmaceuticals, likely contributing to the stock's early morning surge.