Phreesia (NYSE:PHR) Shares Gap Up – Time to Buy?

Shares of Phreesia, Inc. (NYSE:PHR) gapped up before the market opened on Friday . The stock had previously closed at $11.77, but opened at $12.34. Phreesia shares last traded at $11.9480, with a volume of 403,332 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PHR shares. Wells Fargo & Company assumed coverage on Phreesia in a research note on Thursday, January 8th. They issued an “overweight” rating and a $30.00 target price for the company. Wall Street Zen cut Phreesia from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 8th. JPMorgan Chase & Co. decreased their price objective on Phreesia from $29.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 20th. DA Davidson dropped their target price on shares of Phreesia from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Phreesia in a report on Monday, December 8th. Seventeen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.12.

Phreesia Stock Up 0.9%

The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $13.12 and its 200-day moving average price is $18.44. The stock has a market capitalization of $715.94 million, a PE ratio of -118.74 and a beta of 0.67.

Insider Buying and Selling at Phreesia

In other news, insider Evan Roberts sold 6,317 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $17.01, for a total transaction of $107,452.17. Following the completion of the transaction, the insider directly owned 834,632 shares in the company, valued at $14,197,090.32. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Linetsky sold 6,106 shares of Phreesia stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $103,863.06. Following the completion of the transaction, the insider directly owned 231,723 shares of the company’s stock, valued at approximately $3,941,608.23. This represents a 2.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,353 shares of company stock valued at $1,006,528 in the last ninety days. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Phreesia

Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. raised its holdings in Phreesia by 2.7% in the second quarter. Raymond James Financial Inc. now owns 14,049 shares of the company’s stock worth $400,000 after buying an additional 375 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Phreesia by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 19,983 shares of the company’s stock valued at $569,000 after buying an additional 540 shares during the last quarter. Diversified Trust Co increased its position in shares of Phreesia by 1.7% during the third quarter. Diversified Trust Co now owns 45,822 shares of the company’s stock valued at $1,078,000 after acquiring an additional 780 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Phreesia by 1.3% in the 3rd quarter. Alliancebernstein L.P. now owns 62,712 shares of the company’s stock worth $1,475,000 after acquiring an additional 812 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Phreesia by 8.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,847 shares of the company’s stock worth $366,000 after acquiring an additional 1,034 shares during the last quarter. 92.10% of the stock is owned by hedge funds and other institutional investors.

About Phreesia

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.