Phreesia (NYSE:PHR) Stock Rating Reaffirmed by Royal Bank of Canada

Phreesia (NYSE:PHR)‘s stock had its “sector perform” rating restated by equities research analysts at Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $23.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 1.23% from the stock’s previous close.

PHR has been the subject of several other research reports. Canaccord Genuity Group restated a “buy” rating and set a $34.00 price target on shares of Phreesia in a research report on Thursday, September 5th. Stephens restated an “overweight” rating and issued a $28.00 target price on shares of Phreesia in a research report on Friday, May 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $29.00 price target on shares of Phreesia in a report on Thursday, September 5th. Robert W. Baird increased their price objective on Phreesia from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their target price on Phreesia from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phreesia currently has an average rating of “Moderate Buy” and an average price target of $29.42.

Phreesia Trading Up 2.3 %

NYSE:PHR opened at $22.72 on Friday. The firm has a market capitalization of $1.31 billion, a P/E ratio of -10.47 and a beta of 0.93. The business has a 50 day simple moving average of $24.02 and a 200 day simple moving average of $22.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Phreesia has a 12-month low of $12.05 and a 12-month high of $29.16.

Insider Buying and Selling at Phreesia

In other news, CEO Chaim Indig sold 2,644 shares of the business’s 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 sale, the chief executive officer now owns 1,219,361 shares of the company’s stock, valued at approximately $28,947,630.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Balaji Gandhi sold 3,502 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 98,578 shares in the company, valued at $2,291,938.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chaim Indig sold 2,644 shares of the company’s stock in a transaction 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 completion of 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 ninety days, insiders sold 46,203 shares of company stock valued at $1,129,699. 5.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Phreesia

Large investors have recently modified their holdings of the stock. Capital International Investors raised its position in shares of Phreesia by 221.1% during the first quarter. Capital International Investors now owns 2,593,063 shares of the company’s stock worth $62,052,000 after purchasing an additional 1,785,463 shares during the period. Champlain Investment Partners LLC purchased a new stake in Phreesia during the first quarter valued at about $29,941,000. Norges Bank acquired a new position in shares of Phreesia in the fourth quarter worth about $8,199,000. Blair William & Co. IL raised its holdings in shares of Phreesia by 42.6% during the first quarter. Blair William & Co. IL now owns 752,700 shares of the company’s stock valued at $18,012,000 after acquiring an additional 224,950 shares during the period. Finally, Ophir Asset Management Pty Ltd lifted its position in shares of Phreesia by 24.1% in the 4th quarter. Ophir Asset Management Pty Ltd now owns 1,099,505 shares of the company’s stock valued at $25,454,000 after acquiring an additional 213,805 shares in the last quarter. 92.10% of the stock is 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.