Wells Fargo & Company Issues Pessimistic Forecast for Phreesia (NYSE:PHR) Stock Price

Phreesia (NYSE:PHR) had its price target cut by analysts at Wells Fargo & Company from $30.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 128.19% from the stock’s previous close.

Several other research analysts have also recently issued reports on PHR. JPMorgan Chase & Co. decreased their price target on Phreesia from $29.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. Truist Financial set a $24.00 price objective on shares of Phreesia in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of Phreesia from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Phreesia in a research report on Wednesday, January 28th. Finally, Barclays lowered their target price on shares of Phreesia from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Seventeen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.65.

Phreesia Stock Down 6.0%

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 company has a debt-to-equity ratio of 0.01, a current ratio of 2.44 and a quick ratio of 2.44. The stock has a market cap of $660.54 million, a P/E ratio of -109.55 and a beta of 0.67. The stock’s 50 day moving average price is $12.61 and its 200 day moving average price is $17.89.

Insider Buying and Selling

In other news, insider Evan Roberts sold 6,268 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $16.36, for a total value of $102,544.48. Following the completion of the sale, the insider owned 826,554 shares in the company, valued at $13,522,423.44. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David Linetsky sold 6,038 shares of the firm’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $16.36, for a total value of $98,781.68. Following the transaction, the insider directly owned 223,942 shares of the company’s stock, valued at $3,663,691.12. This represents a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 70,358 shares of company stock worth $1,123,569. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Phreesia by 8.3% in the third quarter. Vanguard Group Inc. now owns 5,704,786 shares of the company’s stock worth $134,177,000 after buying an additional 437,462 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Phreesia by 727.1% during the 3rd quarter. New York State Common Retirement Fund now owns 136,856 shares of the company’s stock valued at $3,219,000 after acquiring an additional 120,309 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Phreesia by 243.6% during the 2nd quarter. Squarepoint Ops LLC now owns 100,922 shares of the company’s stock worth $2,872,000 after acquiring an additional 71,553 shares in the last quarter. Greenhouse Funds LLLP grew its holdings in shares of Phreesia by 16.8% in the 3rd quarter. Greenhouse Funds LLLP now owns 3,882,527 shares of the company’s stock worth $91,317,000 after acquiring an additional 557,265 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Phreesia by 1,065.9% in the 3rd quarter. Bessemer Group Inc. now owns 554,513 shares of the company’s stock worth $13,043,000 after acquiring an additional 506,954 shares during the last quarter. Institutional investors own 92.10% of the company’s stock.

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.