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.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PHAT:
- Phathom Pharmaceuticals Reports Q1 2025 Financial Results
- Phathom Pharmaceuticals Eyes Profitability Amid Growth
- Positive Outlook for Phathom Pharmaceuticals Amid Cost-Cutting and Regulatory Catalysts
- Phathom Pharmaceuticals reports Q1 EPS ($1.07), consensus ($1.07)
- Phathom Pharmaceuticals Appoints Theodore Schroeder to Board