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

Phreesia, Inc. (NYSE:PHR)’s stock price 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.

PHR has been the topic of a number of other reports. KeyCorp lowered their target price on shares of Phreesia from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. DA Davidson reissued a “buy” rating and set a $32.00 price objective on shares of Phreesia in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $23.00 target price on shares of Phreesia in a report on Thursday. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Phreesia in a report on Thursday. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $34.00 price target on shares of Phreesia in a research report on Thursday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.42.

Insider Transactions at Phreesia

In other Phreesia 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 transaction, the chief executive officer now 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 available at this hyperlink. In other news, Director Mark Douglas Smith sold 7,000 shares of Phreesia stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $25.00, for a total transaction of $175,000.00. Following the completion of the sale, the director now directly owns 30,653 shares in the company, valued at approximately $766,325. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $62,768.56. Following the completion of the sale, the chief executive officer now owns 1,219,361 shares in the company, valued at approximately $28,947,630.14. The disclosure for this sale can be found here. In the last three months, insiders sold 29,337 shares of company stock valued at $736,750. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Institutional investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc raised its stake in shares of Phreesia by 3.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 22,491 shares of the company’s stock worth $477,000 after buying an additional 700 shares during the last quarter. Conestoga Capital Advisors LLC raised its position in Phreesia by 1.0% during the first quarter. Conestoga Capital Advisors LLC now owns 78,085 shares of the company’s stock worth $1,869,000 after acquiring an additional 750 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Phreesia by 8.6% in the first quarter. ProShare Advisors LLC now owns 9,522 shares of the company’s stock valued at $228,000 after purchasing an additional 751 shares in the last quarter. Rhumbline Advisers grew its position in shares of Phreesia by 1.0% in the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock valued at $1,741,000 after purchasing an additional 853 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Phreesia by 1.0% during the 1st quarter. Swiss National Bank now owns 104,300 shares of the company’s stock worth $2,496,000 after purchasing an additional 1,000 shares in the last quarter. 92.10% of the stock is currently owned by hedge funds and other institutional investors.

Phreesia Stock Performance

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 firm has a market capitalization of $1.35 billion, a PE ratio of -10.85 and a beta of 0.93. The stock’s 50 day moving average price is $23.38 and its two-hundred day moving average price is $22.77.

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.