In a report released today, Steven Halper from Cantor Fitzgerald initiated coverage with a Buy rating on Tabula Rasa HealthCare (NASDAQ: TRHC) and a price target of $99. The company’s shares opened today at $82.30, close to its 52-week high of $91.16.
Halper observed:
“. We initiate coverage of Overweight rating and a 12-month price target of $99. Tabula Rasa is a leading provider of technology-enabled solutions designed to reduce adverse drug events (ADEs) and mitigate medication risk. TRHC’s patient-specific, data-driven technology and solutions allow healthcare organizations to optimize medication regimens and improve patient adherence. In turn, health care providers can drive operational efficiencies and reduce medical costs. The company’s proprietary solutions are differentiated and empower providers to create personalized programs for patients.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 25.2% and a 78.3% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Tabula Rasa HealthCare has an analyst consensus of Strong Buy, with a price target consensus of $80.40, representing a -2.3% downside. In a report issued on August 23, Oppenheimer also assigned a Buy rating to the stock with a $86 price target.
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The company has a one-year high of $91.16 and a one-year low of $20.20. Currently, Tabula Rasa HealthCare has an average volume of 369.8K.
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Tabula Rasa Healthcare, Inc. engages in the development of pharmaceutical software that optimizes medication regimens. It offers cloud-based applications, such as EireneRx and MedWise Advisor. The company was founded by Calvin H. Knowlton and Orsula V. Knowlton in April 2009 and is headquartered in Moorestown, NJ.
