Phio Pharma up after H.C. Wainwright assumes coverage with 'buy' rating

ReutersJun 5, 2025 12:23 PM

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Shares of drug developer Phio Pharmaceuticals PHIO.O rises 12.4% to $2.36 premarket

Brokerage H.C. Wainwright assumes coverage with "buy" rating; sets PT at $14

New PT represents a near seven-fold increase from the stock's last close

"We believe Phio is flying under the radar with investors, and we have a bullish outlook for the stock" - H.C. Wainwright

Says co's lead asset skin cancer therapy, PH-762, has already showed "impressive clinical activity and exhibited favorable safety in an early-stage study"

Brokerage says it believes remaining open to partnering opportunities is "an underappreciated position in current market conditions"

As of last close, stock up 16.7% YTD

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