Definitive Healthcare initiated with a Buy at BTIG

BTIG analyst David Larsen initiated coverage of Definitive Healthcare with a Buy rating and $7 price target. Definitive is one of the healthcare industry’s most comprehensive data collection and analytics platforms that supports biopharma, life sciences, health systems, med-tech, and the broad healthcare ecosystem, the analyst tells investors in a research note. The firm says that while the stock has come under pressure over the past three years, biopharma research and development and the company’s revenue growth “are starting to pick back up.” BTIG likes how fund raising efforts are improving for biotech, and notes the Centers for Medicare and Medicaid Services wants the vast majority of Medicare members in value-based or risk deals by 2030.