Phreesia (NYSE:PHR) Trading 3.9% Higher Following Analyst Upgrade

Phreesia, Inc. (NYSE:PHR)’s share price shot up 3.9% on Thursday after Canaccord Genuity Group raised their price target on the stock from $34.00 to $35.00. Canaccord Genuity Group currently has a buy rating on the stock. Phreesia traded as high as $24.80 and last traded at $24.74. 334,756 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 405,778 shares. The stock had previously closed at $23.80.

Several other analysts have also weighed in on PHR. Needham & Company LLC restated a “buy” rating and issued a $29.00 price objective on shares of Phreesia in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $30.00 price objective on shares of Phreesia in a report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 target price (up from $31.00) on shares of Phreesia in a research report on Wednesday, January 29th. KeyCorp boosted their target price on Phreesia from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Finally, Robert W. Baird cut their target price on Phreesia from $34.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Thirteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Phreesia has an average rating of “Buy” and an average target price of $31.23.

Insider Activity at Phreesia

In related news, COO Evan Roberts sold 3,519 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $30.06, for a total transaction of $105,781.14. Following the transaction, the chief operating officer now directly owns 741,197 shares of the company’s stock, valued at approximately $22,280,381.82. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Balaji Gandhi sold 3,195 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total value of $85,018.95. Following the completion of the transaction, the chief financial officer now owns 148,509 shares in the company, valued at $3,951,824.49. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,322 shares of company stock valued at $4,631,915. Company insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Probity Advisors Inc. purchased a new position in Phreesia in the fourth quarter valued at about $304,000. PharVision Advisers LLC bought a new stake in shares of Phreesia during the 4th quarter worth about $302,000. Two Sigma Advisers LP bought a new stake in shares of Phreesia during the 4th quarter worth about $302,000. Silvercrest Asset Management Group LLC boosted its stake in shares of Phreesia by 31.0% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 394,352 shares of the company’s stock worth $9,922,000 after acquiring an additional 93,349 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Phreesia by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 15,585 shares of the company’s stock worth $392,000 after acquiring an additional 5,127 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Phreesia Stock Performance

The company has a market cap of $1.47 billion, a P/E ratio of -17.26 and a beta of 1.03. The firm has a 50 day moving average price of $27.31 and a 200-day moving average price of $23.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74.

Phreesia Company Profile

Phreesia, Inc provides an integrated SaaS-based software and payment platform for the healthcare industry in the United States and Canada. The company offers access solutions that offers appointment scheduling system for online appointments, reminders, and referral tracking management; registration solution to automate patient self-registration; revenue cycle solution, which offer insurance-verification processes, point-of-sale payments applications, post-visit payment collection, and flexible payment options; and network connect solution to deliver clinically relevant content to patients.