Phreesia (NYSE:PHR) Shares Up 15.1% – Here’s What Happened

Shares of Phreesia, Inc. (NYSE:PHR) rose 15.1% during trading on Wednesday . The stock traded as high as $21.44 and last traded at $21.40. Approximately 416,739 shares were traded during trading, a decline of 7% from the average daily volume of 446,024 shares. The stock had previously closed at $18.60.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PHR shares. Royal Bank of Canada restated a “sector perform” rating and set a $23.00 price objective on shares of Phreesia in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on Phreesia from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Phreesia in a research note on Thursday, September 5th. JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Phreesia in a research note on Thursday, September 5th. Finally, Truist Financial increased their price objective on Phreesia from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, September 6th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.42.

Phreesia Stock Up 13.9 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $1.22 billion, a PE ratio of -11.77 and a beta of 0.94. The company’s 50-day moving average price is $21.83 and its 200 day moving average price is $22.04.

Phreesia (NYSE:PHR) last announced its earnings results on Wednesday, September 4th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.06. The company had revenue of $102.12 million for the quarter, compared to analysts’ expectations of $101.76 million. Phreesia had a negative return on equity of 39.34% and a negative net margin of 25.73%. As a group, analysts forecast that Phreesia, Inc. will post -1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Allison C. Hoffman sold 1,212 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $25,488.36. Following the completion of the transaction, the general counsel now owns 119,791 shares of the company’s stock, valued at approximately $2,519,204.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Phreesia news, General Counsel Allison C. Hoffman sold 14,110 shares of Phreesia stock in a transaction on Monday, August 26th. The shares were sold at an average price of $26.03, for a total value of $367,283.30. Following the completion of the transaction, the general counsel now directly owns 121,003 shares of the company’s stock, valued at $3,149,708.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Allison C. Hoffman sold 1,212 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $21.03, for a total value of $25,488.36. Following the sale, the general counsel now owns 119,791 shares in the company, valued at $2,519,204.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,107 shares of company stock worth $1,035,226 over the last three months. 5.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Phreesia

Several institutional investors have recently made changes to their positions in PHR. International Assets Investment Management LLC grew its holdings in Phreesia by 2,179.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,459 shares of the company’s stock valued at $33,000 after purchasing an additional 1,395 shares during the last quarter. nVerses Capital LLC boosted its holdings in Phreesia by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $64,000 after acquiring an additional 1,300 shares during the period. EntryPoint Capital LLC bought a new position in Phreesia in the 1st quarter valued at $169,000. Quadrature Capital Ltd purchased a new stake in Phreesia in the first quarter worth $202,000. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of Phreesia in the second quarter worth about $202,000. Institutional investors own 92.10% of the company’s stock.

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.