In a report released today, Mohan Naidu from Oppenheimer assigned a Buy rating to Tabula Rasa HealthCare (NASDAQ: TRHC), with a price target of $63. The company’s shares closed on Friday at $51.38, close to its 52-week high of $51.92.
Naidu commented:
“After spending time with TRHC management and R&D team to understand the science behind its MTM and personalized medicine offerings, we’re more convinced that TRHC’s unique approach can make personalized medicine mainstream. Unlike traditional drug interaction systems, which rely on drug labels and evidence- based interactions, TRHC’s method relies on risk profiling each medication plan by overlaying the enzyme-level metabolism info across the patient’s drug ingredients combination to identify potential adverse effects or efficacy issues. This method is much more comprehensive and identifies issues beyond those listed on the drug label. With the addition of a patient’s genetics, this approach results in much more precise personalized medicine. Increasing PT to $63 (from $47). Reiterate Outperform.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 10.2% and a 57.1% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Express Scripts.
Currently, the analyst consensus on Tabula Rasa HealthCare is Strong Buy and the average price target is $51, representing a -0.7% downside.
In a report issued on May 9, Citigroup also reiterated a Buy rating on the stock with a $57 price target.
See today’s analyst top recommended stocks >>
Based on Tabula Rasa HealthCare’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $18.09 million. In comparison, last year the company had a GAAP net loss of $2.88 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Tabula Rasa Healthcare, Inc. engages in the provision of personalized medication therapy management and pharmacy services to reduce medication risk. It provides patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations, lower healthcare costs and manage risk. The company was founded by Calvin H. Knowlton and Orsula V. Knowlton in April 2009 and is headquartered in Moorestown, NJ.
