Piper Jaffray Companies reaffirmed their overweight rating on shares of Tabula Rasa Healthcare Inc. (NASDAQ:TRHC) in a research note published on Wednesday morning, The Fly reports. The brokerage currently has a $29.00 target price on the stock, up from their previous target price of $20.00.

Other equities research analysts have also recently issued reports about the company. Chardan Capital raised their target price on Tabula Rasa Healthcare from $19.50 to $21.00 and gave the company a buy rating in a research report on Tuesday, August 8th. Stifel Nicolaus restated a buy rating and set a $16.00 target price on shares of Tabula Rasa Healthcare in a research report on Friday, July 14th. UBS AG restated a buy rating and set a $17.00 target price (down from $18.00) on shares of Tabula Rasa Healthcare in a research report on Thursday, May 25th. Wells Fargo & Company cut Tabula Rasa Healthcare from an outperform rating to a market perform rating and raised their target price for the company from $17.00 to $21.00 in a research report on Thursday, September 7th. Finally, Robert W. Baird raised their target price on Tabula Rasa Healthcare from $17.00 to $18.00 and gave the company an outperform rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Tabula Rasa Healthcare currently has an average rating of Buy and a consensus price target of $20.71.

Tabula Rasa Healthcare (NASDAQ:TRHC) opened at 25.83 on Wednesday. Tabula Rasa Healthcare has a 1-year low of $10.39 and a 1-year high of $26.79. The stock has a 50 day moving average price of $23.99 and a 200-day moving average price of $23.99. The company’s market cap is $446.50 million.

Tabula Rasa Healthcare (NASDAQ:TRHC) last posted its earnings results on Monday, August 7th. The company reported $0.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.06. Tabula Rasa Healthcare had a negative return on equity of 9.58% and a negative net margin of 10.27%. The firm had revenue of $29.70 million for the quarter, compared to analysts’ expectations of $27.84 million. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts forecast that Tabula Rasa Healthcare will post $0.40 EPS for the current year.

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In other news, insider Orsula V. Knowlton sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $22.10, for a total transaction of $176,800.00. Following the sale, the insider now directly owns 887,407 shares in the company, valued at approximately $19,611,694.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 24,000 shares of company stock worth $428,080 over the last 90 days. Insiders own 45.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its holdings in Tabula Rasa Healthcare by 108.5% in the 1st quarter. TIAA CREF Investment Management LLC now owns 8,131 shares of the company’s stock worth $110,000 after buying an additional 4,232 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Tabula Rasa Healthcare by 257.0% in the 2nd quarter. New York State Common Retirement Fund now owns 10,000 shares of the company’s stock worth $151,000 after buying an additional 7,199 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Tabula Rasa Healthcare in the 1st quarter worth about $178,000. Cadence Capital Management LLC acquired a new stake in Tabula Rasa Healthcare in the 2nd quarter worth about $210,000. Finally, Teachers Advisors LLC boosted its holdings in Tabula Rasa Healthcare by 203.5% in the 2nd quarter. Teachers Advisors LLC now owns 16,500 shares of the company’s stock worth $248,000 after buying an additional 11,063 shares during the last quarter. Hedge funds and other institutional investors own 28.85% of the company’s stock.

Tabula Rasa Healthcare Company Profile

Tabula Rasa HealthCare, Inc (Tabula Rasa), formerly CareKinesis, Inc, is a provider of patient-specific, data-driven technology and solutions that enable healthcare organizations to optimize medication regimens to improve patient outcomes, reduce hospitalizations and manage risk. The Company delivers its solutions through a suite of technology-enabled products and services for medication risk management, which includes bundled prescription fulfillment and adherence packaging services for client populations with complex prescription needs.

The Fly

Analyst Recommendations for Tabula Rasa Healthcare (NASDAQ:TRHC)

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