Trxade Group (MEDS) Receives a Buy from Colliers Securities

Colliers Securities analyst Eugene Mannheimer reiterated a Buy rating on Trxade Group (MEDSResearch Report) today and set a price target of $10.00. The company’s shares closed last Thursday at $5.56.

According to TipRanks.com, Mannheimer is a 4-star analyst with an average return of 21.3% and a 55.3% success rate. Mannheimer covers the Technology sector, focusing on stocks such as Computer Programs and Systems, NextGen Healthcare, and Castlight Health.

Currently, the analyst consensus on Trxade Group is a Moderate Buy with an average price target of $10.50.

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Based on Trxade Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.05 million and GAAP net loss of $651.5K. In comparison, last year the company earned revenue of $2.2 million and had a net profit of $180.3K.

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Trxade Group, Inc. provides an on-line platform for pharmaceutical purchasers. It owns and operates a business-to-business web-based marketplace focuses on the United States pharmaceutical industry. It operates web-based market platform that enables trade among healthcare buyers and sellers of pharmaceuticals, accessories and services; provides state-licensed pharmacies and buying groups in the United States with pharmaceuticals approved by the United States Food and Drug Administration; and acts as technology consultant provider that supports their programming needs and provides research on pharmaceutical pricing and shortages in acute care and retail settings. The company was founded on July 15, 2005 and is headquartered in Land O’ Lakes, FL.