Cantor Fitzgerald Sticks to Their Buy Rating for Tabula Rasa HealthCare (TRHC)

By Ryan Adsit

In a report released yesterday, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Tabula Rasa HealthCare (TRHCResearch Report), with a price target of $99. The company’s shares closed yesterday at $55.11.

Halper wrote:

“. We reiterate our Overweight rating and $99 12-month price target on TRHC shares. Rasa reported solid 4Q18 results, which were generally above FactSet consensus estimates. The company’s profitability was affected by a shift in mix due to recently acquired businesses and investments related to TRHC 2.0. That said, the company is confident these investments will pay dividends and margins will expand over time. TRHC provided 2019 guidance, noting that the adjusted EBITDA outlook was slightly below expectations, due to continued investments in the TRHC 2.0 initiatives.”

According to TipRanks.com, Halper is a top 100 analyst with an average return of 18.5% and a 63.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tabula Rasa HealthCare with a $90.20 average price target.

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The company has a one-year high of $91.16 and a one-year low of $30.56. Currently, Tabula Rasa HealthCare has an average volume of 346.8K.

Based on the recent corporate insider activity of 82 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.