Phreesia’s (PHR) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Phreesia (NYSE:PHR) in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a $23.00 target price on the stock.

A number of other equities research analysts also recently issued reports on PHR. Truist Financial reiterated a buy rating and set a $29.00 price objective on shares of Phreesia in a research note on Monday, July 1st. Canaccord Genuity Group reissued a buy rating and issued a $34.00 price objective on shares of Phreesia in a research note on Thursday. DA Davidson restated a buy rating and set a $32.00 price objective on shares of Phreesia in a research report on Thursday. JMP Securities reaffirmed a market outperform rating and issued a $30.00 target price on shares of Phreesia in a report on Friday, August 30th. Finally, KeyCorp lowered their price target on Phreesia from $27.00 to $25.00 and set an overweight rating for the company in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $30.54.

Phreesia Stock Performance

NYSE:PHR opened at $25.69 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.76 and a current ratio of 1.76. Phreesia has a fifty-two week low of $12.05 and a fifty-two week high of $30.70. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -11.84 and a beta of 0.93. The stock has a fifty day moving average price of $23.33 and a 200-day moving average price of $22.82.

Insider Buying and Selling at Phreesia

In other news, General Counsel Allison C. Hoffman sold 14,110 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.03, for a total transaction of $367,283.30. Following the sale, the general counsel now directly owns 121,003 shares in the company, valued at $3,149,708.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Chaim Indig sold 2,644 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total value of $62,768.56. Following the completion of the sale, the chief executive officer now directly owns 1,219,361 shares in the company, valued at $28,947,630.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Allison C. Hoffman sold 14,110 shares of Phreesia stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $26.03, for a total value of $367,283.30. Following the transaction, the general counsel now directly owns 121,003 shares in the company, valued at $3,149,708.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,337 shares of company stock worth $736,750. 5.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Phreesia

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Select Equity Group L.P. lifted its stake in shares of Phreesia by 14.7% in the second quarter. Select Equity Group L.P. now owns 15,858 shares of the company’s stock worth $336,000 after acquiring an additional 2,028 shares during the period. Deerfield Management Company L.P. Series C acquired a new position in shares of Phreesia in the 2nd quarter worth approximately $4,078,000. Squarepoint Ops LLC boosted its stake in shares of Phreesia by 56.3% in the 2nd quarter. Squarepoint Ops LLC now owns 250,396 shares of the company’s stock valued at $5,308,000 after purchasing an additional 90,215 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Phreesia during the second quarter worth $209,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in Phreesia during the second quarter worth $202,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Phreesia

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.