Canaccord Genuity Group Trims Phreesia (NYSE:PHR) Target Price to $36.00

Phreesia (NYSE:PHRGet Rating) had its price target reduced by Canaccord Genuity Group from $37.00 to $36.00 in a report published on Thursday, The Fly reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on the stock. Royal Bank of Canada dropped their price objective on shares of Phreesia from $29.00 to $20.00 in a research note on Monday, June 6th. SVB Leerink increased their price objective on Phreesia from $27.00 to $31.00 and gave the stock a market perform rating in a research report on Thursday. Raymond James lowered their target price on Phreesia from $45.00 to $34.00 in a research note on Monday, June 6th. Piper Sandler cut their price target on Phreesia from $42.00 to $32.00 and set an overweight rating for the company in a research note on Tuesday, June 14th. Finally, Guggenheim lifted their price objective on shares of Phreesia from $30.00 to $35.00 and gave the company a buy rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $35.92.

Phreesia Price Performance

PHR stock opened at $28.56 on Thursday. The business has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $24.08. The company has a market capitalization of $1.49 billion, a P/E ratio of -8.18 and a beta of 0.75. Phreesia has a twelve month low of $13.19 and a twelve month high of $76.10. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.02.

Insiders Place Their Bets

In other news, SVP Michael J. Davidoff sold 1,404 shares of Phreesia stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.00, for a total transaction of $35,100.00. Following the completion of the sale, the senior vice president now directly owns 108,312 shares in the company, valued at approximately $2,707,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Michael J. Davidoff sold 1,404 shares of Phreesia stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $25.00, for a total transaction of $35,100.00. Following the completion of the transaction, the senior vice president now directly owns 108,312 shares of the company’s stock, valued at $2,707,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gillian Munson sold 2,605 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $25.59, for a total value of $66,661.95. Following the completion of the sale, the director now directly owns 21,550 shares in the company, valued at approximately $551,464.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,055 shares of company stock worth $228,467. 5.50% of the stock is owned by company insiders.

Institutional Trading of Phreesia

Several large investors have recently modified their holdings of PHR. FMR LLC lifted its stake in Phreesia by 28.1% in the 2nd quarter. FMR LLC now owns 6,217,649 shares of the company’s stock valued at $155,504,000 after buying an additional 1,363,173 shares in the last quarter. Echo Street Capital Management LLC increased its position in Phreesia by 254.5% during the 1st quarter. Echo Street Capital Management LLC now owns 1,207,228 shares of the company’s stock worth $31,823,000 after purchasing an additional 866,654 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new position in Phreesia in the 2nd quarter valued at about $21,436,000. Brown Advisory Inc. lifted its holdings in Phreesia by 31.6% in the 2nd quarter. Brown Advisory Inc. now owns 2,169,860 shares of the company’s stock valued at $54,488,000 after purchasing an additional 520,457 shares in the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Phreesia during the 2nd quarter worth about $11,425,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

About Phreesia

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Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. Its Phreesia Platform offers a suite of solutions to manage the patient intake process, as well as an integrated payments solution for processing of patient payments.

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