Wells Fargo & Company Cuts Phreesia (NYSE:PHR) Price Target to $25.00

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

A number of other brokerages have also issued reports on PHR. Royal Bank Of Canada assumed coverage on Phreesia in a research note on Friday, January 9th. They set a “moderate buy” rating and a $26.00 price target for the company. JPMorgan Chase & Co. cut 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. Barclays decreased their target price on Phreesia from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Phreesia in a report on Wednesday, January 28th. Finally, Citigroup dropped their price target on shares of Phreesia from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Seventeen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.65.

Phreesia Price Performance

NYSE PHR opened at $10.96 on Thursday. Phreesia has a 12 month low of $10.75 and a 12 month high of $32.76. The firm has a market capitalization of $660.54 million, a PE ratio of -109.55 and a beta of 0.67. The company’s 50 day simple moving average is $12.61 and its 200 day simple moving average is $17.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44.

Insiders Place Their Bets

In related news, CFO Balaji Gandhi sold 8,009 shares of the company’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 $136,233.09. Following the transaction, the chief financial officer directly owned 156,231 shares of the company’s stock, valued at approximately $2,657,489.31. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Allison C. Hoffman sold 6,585 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.01, for a total value of $112,010.85. Following the completion of the sale, the general counsel directly owned 174,762 shares of the company’s stock, valued at approximately $2,972,701.62. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 70,358 shares of company stock worth $1,123,569. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Phreesia

Several institutional investors have recently made changes to their positions in PHR. Federated Hermes Inc. purchased a new position in Phreesia during the third quarter valued at approximately $32,000. Asset Management One Co. Ltd. acquired a new stake in shares of Phreesia during the 3rd quarter valued at $45,000. Van ECK Associates Corp boosted its stake in shares of Phreesia by 78.7% during the 4th quarter. Van ECK Associates Corp now owns 2,502 shares of the company’s stock valued at $42,000 after buying an additional 1,102 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Phreesia by 354.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,755 shares of the company’s stock valued at $47,000 after acquiring an additional 2,149 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Phreesia by 83.4% during the 4th quarter. KBC Group NV now owns 3,449 shares of the company’s stock valued at $58,000 after acquiring an additional 1,568 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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.