Phreesia’s (PHR) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $29.00 target price on the stock.

PHR has been the subject of several other reports. Truist Financial reiterated a buy rating and issued a $29.00 price target on shares of Phreesia in a report on Monday, July 1st. Canaccord Genuity Group dropped their target price on Phreesia from $37.00 to $34.00 and set a buy rating on the stock in a report on Friday, May 31st. JMP Securities restated a market outperform rating and issued a $30.00 price target on shares of Phreesia in a report on Friday, August 30th. KeyCorp dropped their price objective on shares of Phreesia from $27.00 to $25.00 and set an overweight rating on the stock in a research note on Thursday, July 11th. Finally, Stephens restated an overweight rating and issued a $28.00 target price on shares of Phreesia in a research note on Friday, May 31st. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Phreesia presently has a consensus rating of Moderate Buy and a consensus target price of $30.54.

Phreesia Price Performance

PHR opened at $25.69 on Thursday. Phreesia has a 52-week low of $12.05 and a 52-week high of $30.70. The company has a 50 day moving average of $23.33 and a two-hundred day moving average of $22.82. The company has a market cap of $1.47 billion, a P/E ratio of -11.84 and a beta of 0.93. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.03.

Insider Transactions at Phreesia

In other Phreesia news, CEO Chaim Indig sold 2,644 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total transaction of $62,768.56. Following the sale, the chief executive officer now owns 1,219,361 shares in the company, valued at $28,947,630.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Phreesia news, SVP David Linetsky sold 1,820 shares of Phreesia stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $43,206.80. Following the completion of the transaction, the senior vice president now owns 202,218 shares of the company’s stock, valued at $4,800,655.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $62,768.56. Following the sale, the chief executive officer now directly owns 1,219,361 shares in the company, valued at $28,947,630.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,337 shares of company stock valued at $736,750. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Phreesia by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 4,628,441 shares of the company’s stock worth $107,148,000 after acquiring an additional 194,035 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Phreesia in the 1st quarter worth approximately $29,941,000. Brown Advisory Inc. boosted its position in Phreesia by 22.2% during the 4th quarter. Brown Advisory Inc. now owns 3,950,356 shares of the company’s stock valued at $91,451,000 after purchasing an additional 716,374 shares during the period. Boston Partners bought a new position in Phreesia during the 1st quarter worth $669,000. Finally, Blair William & Co. IL increased its position in Phreesia by 42.6% in the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock worth $18,012,000 after buying an additional 224,950 shares during the period. 92.10% of the stock is owned by institutional investors and hedge funds.

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.