TRHC - Tabula Rasa slips as Baird downgrades on risk to guidance
Tabula Rasa HealthCare (TRHC -7.5%) is trading lower after Baird analyst Vikram Kesavabhotla downgraded the stock to neutral from Outperform, citing risk to the company’s guidance. Kesavabhotla cites macro-related headwinds and warns that the pandemic could continue to adversely impact the company’s sales pipeline. COVID and/or the flu likely caused a sequential drop in the enrollment for the Program of All-inclusive Care for the Elderly in January, the analyst argues. “Given the limited visibility in the current environment and TRHC’s historical execution challenges, we suspect the company may be inclined to take a particularly conservative approach to any upcoming guidance revisions,” he added. The price target set to $11 per share implies a premium of ~2% to the last close. Tabula Ras (NASDAQ:TRHC), a health-tech firm based in Moorestown, New Jersey, has dropped ~81% over the past twelve months amid a gradual decline in its consensus revenue estimates, as shown in
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Tabula Rasa slips as Baird downgrades on risk to guidance