Phreesia (NYSE:PHR) Shares Gap Up After Analyst Upgrade

Phreesia, Inc. (NYSE:PHR) shares gapped up before the market opened on Friday after Truist Financial raised their price target on the stock from $29.00 to $31.00. The stock had previously closed at $25.69, but opened at $26.33. Truist Financial currently has a buy rating on the stock. Phreesia shares last traded at $25.94, with a volume of 18,815 shares traded.

A number of other analysts have also recently weighed in on PHR. Canaccord Genuity Group reissued a “buy” rating and set a $34.00 target price on shares of Phreesia in a report on Thursday. KeyCorp dropped their target price on shares of Phreesia from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Stephens restated an “overweight” rating and set a $28.00 price target on shares of Phreesia in a research report on Friday, May 31st. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price target on shares of Phreesia in a research report on Thursday. Finally, Robert W. Baird increased their target price on shares of Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.92.

Insider Buying and Selling

In other Phreesia news, CEO Chaim Indig sold 2,644 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total transaction of $62,768.56. Following the completion of the sale, the chief executive officer now directly owns 1,219,361 shares of the company’s stock, valued at approximately $28,947,630.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Evan Roberts sold 1,669 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $23.74, for a total value of $39,622.06. Following the completion of the sale, the chief operating officer now directly owns 753,234 shares of the company’s stock, valued at approximately $17,881,775.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chaim Indig sold 2,644 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were 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 of the company’s stock, valued at $28,947,630.14. The disclosure for this sale can be found here. Insiders have sold a total of 29,337 shares of company stock worth $736,750 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

A number of institutional investors and hedge funds have recently modified their holdings of PHR. nVerses Capital LLC increased its stake in shares of Phreesia by 76.5% in the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $64,000 after acquiring an additional 1,300 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Phreesia by 5,462.3% in the 4th quarter. Russell Investments Group Ltd. now owns 3,838 shares of the company’s stock valued at $89,000 after acquiring an additional 3,769 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Phreesia in the 1st quarter valued at about $169,000. Quadrature Capital Ltd bought a new stake in shares of Phreesia in the 1st quarter valued at about $202,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in shares of Phreesia in the 2nd quarter valued at about $202,000. 92.10% of the stock is owned by institutional investors.

Phreesia Trading Down 8.3 %

The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.35 billion, a P/E ratio of -10.85 and a beta of 0.93. The business has a 50 day moving average price of $23.38 and a 200 day moving average price of $22.79.

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.