H.C. Wainwright analyst Matthew Caufield lowered the firm’s price target on Phathom Pharmaceuticals (PHAT) to $20 from $28 and keeps a Buy rating on the shares. The firm says the company’s announcements of a cost reduction, organizational restructuring including headcount reduction, and at least temporary suspension of clinical development programs caught it off guard.
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Read More on PHAT:
- Phathom Pharmaceuticals Reports Q1 2025 Financial Results
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- Positive Outlook for Phathom Pharmaceuticals Amid Cost-Cutting and Regulatory Catalysts
- Phathom Pharmaceuticals reports Q1 EPS ($1.07), consensus ($1.07)
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