Phreesia Stock Drops After Wells Fargo Analyst Downgrade
Phreesia (NYSE: PHR) fell by 3.5% on May 20, 2026, following a downgrade from Wells Fargo analyst Stan Berenshteyn to 'equal weight' with a reduced price target of $9 per share from $15. The move was attributed to increased competition and concerns over the replaceability of Phreesia's patient intake software.
Topics: healthcare tech Phreesia price target subscription revenue Wells Fargo