Phreesia (NYSE:PHR) Shares Up 7.2% – What’s Next?

Phreesia, Inc. (NYSE:PHR)’s stock price rose 7.2% during trading on Wednesday . The stock traded as high as $29.18 and last traded at $29.23. Approximately 432,118 shares traded hands during trading, an increase of 4% from the average daily volume of 415,837 shares. The stock had previously closed at $27.27.

Analyst Upgrades and Downgrades

PHR has been the subject of a number of research reports. Citigroup boosted their target price on shares of Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and set a $33.00 target price (up previously from $31.00) on shares of Phreesia in a research note on Wednesday, January 29th. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of Phreesia in a research note on Tuesday, December 10th. Truist Financial upped their price objective on shares of Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their target price on shares of Phreesia from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, March 13th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $31.33.

Phreesia Price Performance

The stock has a market capitalization of $1.72 billion, a PE ratio of -19.94 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.74 and a current ratio of 1.74. The stock’s 50-day moving average is $27.32 and its 200 day moving average is $24.00.

Insider Activity at Phreesia

In related news, SVP Amy Beth Vanduyn sold 1,311 shares of the firm’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 $34,885.71. Following the completion of the sale, the senior vice president now owns 115,633 shares in the company, valued at $3,076,994.13. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Evan Roberts sold 2,873 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $26.61, for a total transaction of $76,450.53. Following the transaction, the chief operating officer now owns 779,993 shares of the company’s stock, valued at $20,755,613.73. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,907 shares of company stock worth $4,521,730 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

Several hedge funds have recently added to or reduced their stakes in the business. Probity Advisors Inc. purchased a new position in Phreesia during the 4th quarter valued at about $304,000. PharVision Advisers LLC purchased a new stake in shares of Phreesia during the fourth quarter worth about $302,000. Two Sigma Advisers LP purchased a new stake in shares of Phreesia during the fourth quarter worth about $302,000. Silvercrest Asset Management Group LLC grew its holdings in shares of Phreesia by 31.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 394,352 shares of the company’s stock worth $9,922,000 after buying an additional 93,349 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Phreesia by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 15,585 shares of the company’s stock worth $392,000 after buying an additional 5,127 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

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.