Phreesia (NYSE:PHR) Price Target Cut to $25.00 by Analysts at Wells Fargo & Company

Phreesia (NYSE:PHR) had its target price trimmed by Wells Fargo & Company from $30.00 to $25.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

PHR has been the subject of several other reports. Mizuho cut their price objective on Phreesia from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price objective on shares of Phreesia in a report on Monday, December 8th. Canaccord Genuity Group reduced their target price on Phreesia from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, December 9th. Barclays reduced their price target on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Finally, Royal Bank Of Canada started coverage on Phreesia in a research note on Friday, January 9th. They set a “moderate buy” rating and a $26.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.65.

Phreesia Stock Up 3.1%

Shares of NYSE PHR opened at $11.64 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. Phreesia has a 52 week low of $10.75 and a 52 week high of $32.76. The firm has a 50-day moving average price of $12.72 and a 200 day moving average price of $18.00. The stock has a market capitalization of $701.44 million, a price-to-earnings ratio of -116.34 and a beta of 0.67.

Insider Activity at Phreesia

In other news, insider Evan Roberts sold 6,317 shares of Phreesia stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $107,452.17. Following the completion of the transaction, the insider directly owned 834,632 shares of the company’s stock, valued at approximately $14,197,090.32. The trade was a 0.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Allison C. Hoffman sold 6,585 shares of Phreesia stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $17.01, for a total value of $112,010.85. Following the completion of the transaction, the general counsel owned 174,762 shares of the company’s stock, valued at approximately $2,972,701.62. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 66,529 shares of company stock worth $1,080,454 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Phreesia by 208.8% during the 1st quarter. Royal Bank of Canada now owns 24,119 shares of the company’s stock valued at $617,000 after purchasing an additional 16,309 shares during the period. AQR Capital Management LLC raised its holdings in Phreesia by 471.2% during the first quarter. AQR Capital Management LLC now owns 160,032 shares of the company’s stock worth $4,090,000 after purchasing an additional 132,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Phreesia by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,557 shares of the company’s stock worth $1,599,000 after purchasing an additional 2,158 shares during the period. NewEdge Advisors LLC lifted its position in Phreesia by 262.7% in the first quarter. NewEdge Advisors LLC now owns 15,437 shares of the company’s stock worth $395,000 after purchasing an additional 11,181 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Phreesia by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 600,012 shares of the company’s stock valued at $15,336,000 after purchasing an additional 2,402 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

Phreesia Company Profile

Phreesia, Inc (NYSE: PHR) is a provider of patient intake management solutions designed to streamline front-office workflows for healthcare organizations. The company’s cloud-based platform digitizes patient registration, appointment scheduling, insurance verification, consent documentation and payment collection through touchscreen kiosks, tablets and mobile devices. By replacing paper forms and manual processes, Phreesia enhances data accuracy, reduces administrative burden and improves the patient experience.

Founded in 2000 by Chaim Indig and headquartered in Burlington, Massachusetts, Phreesia offers a modular software suite that integrates with electronic medical record (EMR) and practice management systems.