Royal Bank of Canada Reiterates “Sector Perform” Rating for Phreesia (NYSE:PHR)

Phreesia (NYSE:PHR)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $23.00 price objective on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 1.23% from the company’s current price.

PHR has been the topic of a number of other research reports. KeyCorp reduced their target price on Phreesia from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Phreesia in a report on Friday, May 31st. DA Davidson restated a “buy” rating and issued a $32.00 price target on shares of Phreesia in a report on Thursday, September 5th. Robert W. Baird lifted their price target on shares of Phreesia from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, Truist Financial increased their price objective on shares of Phreesia from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.42.

Phreesia Stock Performance

NYSE:PHR opened at $22.72 on Friday. Phreesia has a fifty-two week low of $12.05 and a fifty-two week high of $29.16. The firm’s 50 day moving average is $24.02 and its two-hundred day moving average is $22.64. The company has a market cap of $1.31 billion, a P/E ratio of -10.47 and a beta of 0.93. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Insider Activity

In related news, CFO Balaji Gandhi sold 3,502 shares of Phreesia stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total transaction of $81,421.50. Following the sale, the chief financial officer now owns 98,578 shares of the company’s stock, valued at approximately $2,291,938.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Phreesia news, CFO Balaji Gandhi sold 3,502 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.25, for a total value of $81,421.50. Following the completion of the transaction, the chief financial officer now directly owns 98,578 shares of the company’s stock, valued at approximately $2,291,938.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Evan Roberts sold 1,669 shares of Phreesia 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 sale, the chief operating officer now directly owns 753,234 shares in the company, valued at $17,881,775.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,203 shares of company stock worth $1,129,699. 5.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Phreesia

Institutional investors have recently made changes to their positions in the business. Ensign Peak Advisors Inc increased its stake in shares of Phreesia by 3.2% in the second 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 stake in shares of Phreesia by 1.0% in the 1st quarter. Conestoga Capital Advisors LLC now owns 78,085 shares of the company’s stock valued at $1,869,000 after purchasing an additional 750 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Phreesia by 8.6% in the 1st 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 lifted its position in shares of Phreesia by 1.0% during the second quarter. Rhumbline Advisers now owns 82,136 shares of the company’s stock worth $1,741,000 after purchasing an additional 853 shares during the last quarter. Finally, Swiss National Bank grew its stake in Phreesia by 1.0% in the first 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 owned by institutional investors and hedge funds.

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.