LOS ANGELES, May 20, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Phreesia, Inc., (“Phreesia” or the “Company”) (NYSE: PHR) investors of a class action on behalf of investors that bought securities between May 8, 2025 and March 30, 2026, inclusive (the “Class Period”). PHR investors have until July 13, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/phreesia-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, during the class period, defendants failed to disclose that: (1) Phreesia’s pharmaceutical marketing commitments within its Network Solutions segment were weakening; (2) the Company was experiencing reduced visibility into future spending commitments from pharmaceutical manufacturers; (3) Network Solutions clients were committing lower spending levels for the second half of fiscal year 2027 than the Company had previously anticipated; and (4) increasing variability in Network Solutions revenue forecasting placed the Company’s fiscal year 2027 revenue guidance and long-term growth outlook at risk.
Plaintiff alleges that on March 30, 2026, Phreesia announced that it was lowering its fiscal year 2027 revenue outlook to a range of $510 million to $520 million from a previous range of $545 million to $559 million. The Company disclosed that it was experiencing “shorter visibility into spending commitments” from certain pharmaceutical manufacturers and that Network Solutions clients were committing lower spending levels for the second half of fiscal year 2027 than anticipated. The Company further stated that “there is now more variability in our internal network solutions revenue forecasting.” On the accompanying earnings call, defendants further disclosed that certain clients were committing fewer marketing dollars due to “brand-specific dynamics including the impact of regulatory policies.” On this news, Phreesia’s stock price fell from $11.41 per share on March 30, 2026, to $8.38 per share on March 31, 2026, a decline of approximately 27%.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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