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 on Friday at $77.83.
Naidu observed:
“Meetings with management make us excited about the increased pipeline and growing traction outside PACE. Pipeline strength (10M lives, couple of $10M+ contracts) gives us confidence in the growth. As Tabula Rasa demonstrates its value outside its core PACE market, we see increased interest from both government (CMMI) and commercial healthcare entrants, with opportunities to expand, in time, into hospitals/EMRs and retail pharmacies. Recent acquisitions (Mediture and eClusive) add more cross-sell opportunity within the PACE segment and is expected to accelerate to 20% by year end. Favorable regulatory tailwinds on both the PACE and EMTM sides make us believe that TRHC’s unique services are likely to drive demand and gain more traction. Reiterate Outperform, $86 target.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 18.2% and a 62.4% 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 $86.17 average price target, representing a 10.7% upside. In a report issued on September 19, Robert W. Baird also reiterated a Buy rating on the stock with a $90 price target.
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Based on Tabula Rasa HealthCare’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $29.03 million. In comparison, last year the company had a GAAP net loss of $1.46 million.
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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.
