Canaccord Genuity Believes Ontrak (NASDAQ: OTRK) Won’t Stop Here

In a report released yesterday, Richard Close from Canaccord Genuity maintained a Buy rating on Ontrak (OTRKResearch Report), with a price target of $70.00. The company’s shares closed last Wednesday at $39.33, close to its 52-week high of $41.55.

According to TipRanks.com, Close is a 5-star analyst with an average return of 24.4% and a 61.8% success rate. Close covers the Technology sector, focusing on stocks such as Castlight Health, Health Catalyst, and Livongo Health.

Currently, the analyst consensus on Ontrak is a Moderate Buy with an average price target of $53.00.

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Based on Ontrak’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $12.34 million and GAAP net loss of $7.6 million. In comparison, last year the company earned revenue of $6.81 million and had a GAAP net loss of $2.92 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.