Phreesia (NYSE:PHR) Trading 7.2% Higher – Still a Buy?

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

Analysts Set New Price Targets

Several research firms have recently commented on PHR. Piper Sandler restated an “overweight” rating and set a $33.00 price objective (up previously from $31.00) on shares of Phreesia in a report on Wednesday, January 29th. Citigroup lifted their target price on Phreesia from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Truist Financial lifted their target price on Phreesia from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada raised Phreesia from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $24.00 to $32.00 in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group boosted their price objective on Phreesia from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, March 13th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Phreesia has a consensus rating of “Buy” and a consensus target price of $31.33.

Phreesia Trading Down 0.6 %

The firm has a market cap of $1.61 billion, a PE ratio of -18.68 and a beta of 1.03. The firm has a fifty day simple moving average of $27.32 and a two-hundred day simple moving average of $24.06. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.04.

Insider Activity at Phreesia

In other Phreesia news, SVP Amy Beth Vanduyn sold 1,311 shares of Phreesia stock in a transaction on Monday, January 6th. The stock was 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 of the company’s stock, valued at approximately $3,076,994.13. This trade represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Linetsky sold 11,685 shares of Phreesia stock in a transaction on Monday, January 27th. The stock was sold at an average price of $27.48, for a total value of $321,103.80. Following the completion of the sale, the senior vice president now directly owns 231,271 shares of the company’s stock, valued at approximately $6,355,327.08. The trade was a 4.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,442 shares of company stock valued at $4,611,300 in the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Hedge Funds Weigh In On Phreesia

A number of institutional investors and hedge funds have recently modified their holdings of the company. Deerfield Management Company L.P. Series C lifted its position in Phreesia by 133.6% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,271,832 shares of the company’s stock valued at $31,999,000 after purchasing an additional 727,384 shares in the last quarter. Greenhouse Funds LLLP lifted its position in Phreesia by 27.9% during the fourth quarter. Greenhouse Funds LLLP now owns 2,873,892 shares of the company’s stock valued at $72,307,000 after purchasing an additional 626,579 shares in the last quarter. Park West Asset Management LLC purchased a new position in Phreesia during the fourth quarter valued at $10,657,000. Millennium Management LLC lifted its position in Phreesia by 83.2% during the fourth quarter. Millennium Management LLC now owns 653,634 shares of the company’s stock valued at $16,445,000 after purchasing an additional 296,863 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in Phreesia by 448.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 174,971 shares of the company’s stock valued at $4,402,000 after purchasing an additional 143,077 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.