Healthcare tech firm Phreesia surges after pricing stock offering

Veradigm

21/10/2020 16:42

** Phreesia Inc  PHR.N  shares surge 11.7% to $36.32 after
co prices follow-on
    ** PHR hits record high $37.36 on Weds
    ** Medical software developer sells 5 mln shares at $32,
raises ~$152 mln  urn:newsml:reuters.com:*:nBw2xBtlBa
    ** JP Morgan and William Blair leading offering, along with
bookrunners Allen & Co and Piper Sandler
    ** Prior to equity raise, co had ~38 mln shares outstanding
for $1.2 bln market cap as of last close, per Refinitiv data
    ** With move on Weds, shares are now double their $18 Jul
2019 IPO price
    ** Over past 6 months, PHR's stock has risen ~66%. This
compares to other health IT cos, including Change Healthcare
 CHNG.O  up ~44%, Health Catalyst  HCAT.O  up ~28% and Teladoc
 TDOC.N  up ~20% over same time frame

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))