Is PHAT or PLYX more undervalued in 2026?

CirclFi compares Phathom Pharmaceuticals, Inc. (PHAT) and Polaryx Therapeutics, Inc. (PLYX) using 13 institutional-grade valuation models. PHAT has a Quality of Company score of 6.1/10 while PLYX scores 4.3/10.

Which is a better buy — PHAT or PLYX?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do PHAT and PLYX valuations compare?

PHAT at $9.59 and PLYX at $3.27 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

PHAT vs PLYX Valuation Comparison 2026 — Intrinsic Value Analysis

PHAT

Pharmaceutical Preparations

Phathom Pharmaceuticals, Inc.

Quality

6.1

out of 10

Value Trap

SAFE

Price

$9.59

Last close

Models

10/13

Active

PLYX

Pharmaceutical Preparations

Polaryx Therapeutics, Inc.

Quality

4.3

out of 10

Value Trap

—

Price

$3.27

Last close

Models

8/13

Active

Model-by-Model Comparison

Model	Type	PHAT Fair Value	PHAT Upside	PLYX Fair Value	PLYX Upside
Bayesian DCF	Intrinsic	$3.58	-62.7%	$0.95	-70.8%
Earnings Power Value	Intrinsic	$5.33	-55.6%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	—	—	$0.19	-94.2%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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PHAT vs PLYX — Which Stock Is More Undervalued?

PHAT scores higher with a 6.1/10 quality rating vs PLYX's 4.3/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Phathom Pharmaceuticals, Inc. (PHAT) and Polaryx Therapeutics, Inc. (PLYX) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

PHAT currently trades at $9.59 with a QOC of 6.1/10, while PLYX trades at $3.27 with a QOC of 4.3/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).