In a report released today, Mohan Naidu from Oppenheimer maintained a Buy rating on Tabula Rasa HealthCare (NASDAQ: TRHC), with a price target of $86. The company’s shares closed yesterday at $79.04, close to its 52-week high of $79.28.
Naidu observed:
“Our analysis of PACE data shows steady enrollment growth, and while the services segment’s accelerated growth is decreasing the PACE revenue mix, we believe PACE is a key source of sustainable revenue. The recent data on TRHC’s outperformance in CMS’s pilot (>2% savings) and ~4:1 ROI is likely to draw further attention to Management (EMTM) solution in Part D. The recent CMS ruling to categorize MTM costs to medical costs, and CMS’s proposal highlighting the importance of MTM in the expedited path to double-sided risk models make us very excited about the opportunities and explain the increased interest from investors. Lifting target from $65 to $86. Reiterate Outperform.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 17.0% and a 63.9% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tabula Rasa HealthCare with a $70.50 average price target, which is a -10.8% downside from current levels. In a report issued on August 8, Piper Jaffray also reiterated a Buy rating on the stock with a $71 price target.
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The company has a one-year high of $79.28 and a one-year low of $19.52. Currently, Tabula Rasa HealthCare has an average volume of 349.3K.
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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.
