Phreesia (NYSE:PHR) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Phreesia (NYSE:PHR) in a report issued on Thursday, Benzinga reports. They currently have a $29.00 price target on the stock.

A number of other analysts also recently issued reports on PHR. Stephens reiterated an overweight rating and issued a $28.00 price target on shares of Phreesia in a report on Friday, May 31st. Truist Financial reaffirmed a buy rating and issued a $29.00 target price on shares of Phreesia in a report on Monday, July 1st. JMP Securities reissued a market outperform rating and set a $30.00 price target on shares of Phreesia in a research note on Friday, August 30th. Canaccord Genuity Group reduced their price objective on Phreesia from $37.00 to $34.00 and set a buy rating on the stock in a research note on Friday, May 31st. Finally, KeyCorp decreased their price objective on Phreesia from $27.00 to $25.00 and set an overweight rating on the stock in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $30.42.

Phreesia Trading Down 8.3 %

Phreesia stock opened at $23.55 on Thursday. Phreesia has a 1 year low of $12.05 and a 1 year high of $29.16. The firm’s 50 day moving average price is $23.38 and its 200-day moving average price is $22.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market cap of $1.35 billion, a P/E ratio of -10.85 and a beta of 0.93.

Insider Activity at Phreesia

In other Phreesia news, Director Mark Douglas Smith sold 7,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 30,653 shares in the company, valued at $766,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Phreesia news, Director Mark Douglas Smith sold 7,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $25.00, for a total value of $175,000.00. Following the completion of the sale, the director now owns 30,653 shares of the company’s stock, valued at $766,325. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Chaim Indig sold 2,644 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $23.74, for a total value of $62,768.56. Following the transaction, the chief executive officer now directly 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 90 days, insiders have sold 29,337 shares of company stock worth $736,750. Company insiders own 5.80% of the company’s stock.

Institutional Trading of Phreesia

Several institutional investors and hedge funds have recently made changes to their positions in PHR. nVerses Capital LLC grew its holdings in shares of Phreesia by 76.5% in the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock worth $64,000 after purchasing an additional 1,300 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Phreesia by 5,462.3% in the 4th quarter. Russell Investments Group Ltd. now owns 3,838 shares of the company’s stock worth $89,000 after acquiring an additional 3,769 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Phreesia during the first quarter worth approximately $169,000. Quadrature Capital Ltd bought a new stake in shares of Phreesia during the first quarter valued at approximately $202,000. Finally, Lombard Odier Asset Management USA Corp purchased a new stake in shares of Phreesia in the second quarter valued at approximately $202,000. 92.10% of the stock is currently owned by institutional investors.

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.