Phreesia (NYSE:PHR) Cut to “Underweight” at JPMorgan Chase & Co.

Phreesia (NYSE:PHR) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Wednesday, FinViz reports. They currently have a $13.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 1.13% from the company’s current price.

Several other brokerages have also recently issued reports on PHR. Citigroup restated a “market perform” rating on shares of Phreesia in a report on Tuesday, October 20th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 price target on shares of Phreesia in a research note on Monday, August 31st. Royal Bank Of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of Phreesia in a research report on Thursday, September 3rd. Barclays boosted their price target on shares of Phreesia from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, October 12th. Finally, Wells Fargo & Company upped their price objective on shares of Phreesia from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. Eight research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Phreesia currently has an average rating of “Hold” and a consensus price target of $13.87.

Phreesia Trading Up 1.9%

Shares of NYSE:PHR opened at $13.15 on Wednesday. Phreesia has a 52 week low of $7.77 and a 52 week high of $23.31. The company’s 50 day moving average is $11.17 and its two-hundred day moving average is $10.87. The company has a market cap of $816.17 million, a PE ratio of 77.35 and a beta of 0.75. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.33.

Phreesia (NYSE:PHR) last released its quarterly earnings data on Wednesday, September 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $129.46 million for the quarter, compared to analysts’ expectations of $129.06 million. Phreesia had a return on equity of 5.22% and a net margin of 2.06%. Phreesia’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. Equities analysts predict that Phreesia will post 0.33 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Allison C. Hoffman sold 6,662 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $10.08, for a total transaction of $67,152.96. Following the transaction, the general counsel owned 266,574 shares of the company’s stock, valued at $2,687,065.92. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Phreesia

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHR. Pale Fire Capital SE grew its stake in shares of Phreesia by 3.2% during the 2nd quarter. Pale Fire Capital SE now owns 8,924,329 shares of the company’s stock worth $91,831,000 after purchasing an additional 275,000 shares during the period. BlackRock Inc. purchased a new position in Phreesia in the 2nd quarter valued at about $72,234,000. Bank of America Corp DE boosted its position in Phreesia by 142.6% during the first quarter. Bank of America Corp DE now owns 1,001,057 shares of the company’s stock worth $8,389,000 after acquiring an additional 588,444 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Phreesia during the second quarter worth $6,274,000. Finally, Ieq Capital LLC purchased a new stake in Phreesia in the 2nd quarter valued at about $3,689,000. Institutional investors and hedge funds own 92.10% of the company’s stock.

About Phreesia

Phreesia, Inc. provides software and services that help healthcare organizations manage interactions with patients. Its platform supports tasks such as patient registration and intake, appointment scheduling, payments, and communications before and after visits. Phreesia’s tools include digital and mobile options for completing forms and sharing information, as well as services designed to help providers engage patients and streamline administrative workflows. The company serves healthcare providers and organizations primarily in the United States.