Ontrak (NASDAQ:OTRK) Price Target Cut to $73.00

Posted by Mitch Edgeman on Mar 6th, 2021 // Comments off

Ontrak (NASDAQ:OTRK) had its target price cut by B. Riley from $110.00 to $73.00 in a report released on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.

OTRK has been the topic of a number of other reports. Royal Bank of Canada cut Ontrak from an outperform rating to a sector perform rating and reduced their price objective for the company from $82.00 to $32.00 in a research note on Monday, March 1st. Zacks Investment Research raised Ontrak from a sell rating to a hold rating in a research note on Wednesday, February 24th. Canaccord Genuity downgraded shares of Ontrak from a buy rating to a hold rating and decreased their target price for the stock from $89.00 to $30.00 in a research note on Tuesday. Finally, Cowen cut shares of Ontrak from an outperform rating to a market perform rating and dropped their price target for the company from $75.00 to $35.00 in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Ontrak has an average rating of Hold and a consensus price target of $54.00.

OTRK stock opened at $26.02 on Tuesday. The firm has a market cap of $453.16 million, a P/E ratio of -15.31 and a beta of 2.52. The firm’s fifty day moving average is $72.68 and its 200 day moving average is $64.79. Ontrak has a 52 week low of $8.55 and a 52 week high of $99.89. The company has a debt-to-equity ratio of 3.04, a quick ratio of 3.59 and a current ratio of 3.59.

Institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC purchased a new stake in Ontrak in the third quarter worth $30,000. Clearstead Advisors LLC bought a new position in Ontrak in the 3rd quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Ontrak in the 3rd quarter worth about $69,000. JPMorgan Chase & Co. bought a new stake in shares of Ontrak during the 3rd quarter valued at about $185,000. Finally, M&T Bank Corp purchased a new position in shares of Ontrak during the third quarter valued at about $203,000. Institutional investors own 27.49% of the company’s stock.

About Ontrak

Ontrak, Inc operates as an artificial intelligence powered, virtualized outpatient healthcare treatment company that provides in-person or telehealth intervention services to health plans and other third-party payors. Its Ontrak PRE (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends care pathways that people are willing to follow, and engages people who aren't getting the care they need.

Ontrak (NASDAQ:OTRK) Price Target Cut to $73.00

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