Phreesia, Inc. (NYSE:PHR) Receives $31.33 Consensus Target Price from Analysts

Shares of Phreesia, Inc. (NYSE:PHR) have been given a consensus rating of “Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $31.33.

PHR has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Phreesia in a research report on Thursday, March 13th. Citigroup raised their price target on shares of Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, January 10th. Royal Bank of Canada upgraded shares of Phreesia from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $24.00 to $32.00 in a report on Wednesday, January 8th. Piper Sandler restated an “overweight” rating and set a $33.00 price target (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group raised their price target on shares of Phreesia from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 13th.

Insider Transactions at Phreesia

In other news, SVP David Linetsky sold 11,616 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $29.70, for a total transaction of $344,995.20. Following the transaction, the senior vice president now owns 218,135 shares in the company, valued at approximately $6,478,609.50. The trade was a 5.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Allison C. Hoffman sold 3,496 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $29.72, for a total transaction of $103,901.12. Following the transaction, the general counsel now owns 142,630 shares in the company, valued at approximately $4,238,963.60. The trade was a 2.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,160 shares of company stock worth $3,139,103. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Phreesia

Several institutional investors have recently made changes to their positions in PHR. Deerfield Management Company L.P. Series C boosted its position in shares of Phreesia by 133.6% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company’s stock valued at $31,999,000 after acquiring an additional 727,384 shares in the last quarter. Greenhouse Funds LLLP boosted its position in shares of Phreesia by 27.9% during the 4th quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after acquiring an additional 626,579 shares in the last quarter. Park West Asset Management LLC acquired a new stake in shares of Phreesia during the 4th quarter valued at about $10,657,000. Millennium Management LLC boosted its position in shares of Phreesia by 83.2% during the 4th quarter. Millennium Management LLC now owns 653,634 shares of the company’s stock valued at $16,445,000 after acquiring an additional 296,863 shares in the last quarter. Finally, ExodusPoint Capital Management LP boosted its position in shares of Phreesia by 448.6% during the 4th quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company’s stock valued at $4,402,000 after acquiring an additional 143,077 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

Phreesia Price Performance

NYSE PHR opened at $24.47 on Friday. The company has a 50 day simple moving average of $25.41 and a 200-day simple moving average of $24.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -16.65 and a beta of 0.82. Phreesia has a 52-week low of $17.07 and a 52-week high of $30.53.

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.