In a report released today, Mohan Naidu from Oppenheimer reiterated a Buy rating on Tabula Rasa HealthCare (TRHC), with a price target of $88. The company’s shares closed yesterday at $54.76.
Naidu noted:
“Tabula Rasa announced the acquisition of in cash. PrescribeWellness provides engagement and Rx network solutions connecting Pharmacists, Patients and Payors. PrescribeWellness has relationships with 10K pharmacies and 15K pharmacists. The acquisition should provide leverage to TRHC in pushing its solutions into the pharmacies and expanding on PrescribeWellness’s relationships to push the company’s solutions. Mgmt. noted visibility in cross selling the solutions and potentially opening up new RFPs which were inaccessible before the combination. The acquisition adds high margin service revenues to the numbers and we expect growth in ~20% range. Reiterate Outperform rating, adjusting our target to $88.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 10.1% and a 54.0% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tabula Rasa HealthCare with a $90.50 average price target, which is a 65.3% upside from current levels. In a report issued on February 28, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $99 price target.
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Based on Tabula Rasa HealthCare’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.57 million. In comparison, last year the company had a net profit of $10.95 million.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock.
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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.
