Canaccord Genuity analyst Richard Close maintained a Buy rating on Ontrak (OTRK) yesterday and set a price target of $89.00. The company’s shares closed last Friday at $50.80.
According to TipRanks.com, Close is a 5-star analyst with an average return of 27.1% and a 63.9% success rate. Close covers the Technology sector, focusing on stocks such as Castlight Health, Health Catalyst, and HealthStream.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ontrak with a $87.67 average price target, which is an 82.6% upside from current levels. In a report issued on November 18, B.Riley Financial also initiated coverage with a Buy rating on the stock with a $100.00 price target.
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Based on Ontrak’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $24.02 million and GAAP net loss of $5.67 million. In comparison, last year the company earned revenue of $8.85 million and had a GAAP net loss of $8.56 million.
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Catasys, Inc. provides data analytics based specialized behavioral health management and integrated treatment services to health plans. It offers services through its platform OnTrak solution which is designed to improve member health and, at the same time, lower costs to the insurer for underserved populations where behavioral health conditions cause or exacerbate co-existing medical conditions. The company was founded by Terren S. Peizer in February 2003 and is headquartered in Santa Monica, CA.