OptimizeRx’s (OPRX) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of OptimizeRx (NASDAQ:OPRX) in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a $6.00 price target on the stock, down from their previous price target of $7.00.

A number of other brokerages have also recently weighed in on OPRX. JMP Securities dropped their price target on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Thursday, November 14th. B. Riley lowered their price objective on shares of OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, December 24th. Stifel Nicolaus cut their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stephens began coverage on shares of OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price target for the company. Finally, Barclays dropped their price target on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.06.

OptimizeRx Trading Down 0.9 %

Shares of OptimizeRx stock opened at $5.36 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. The stock’s 50 day simple moving average is $5.16 and its 200-day simple moving average is $7.25. The stock has a market cap of $98.74 million, a P/E ratio of -4.03 and a beta of 1.36. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65.

Insider Buying and Selling at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo acquired 20,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $5.01 per share, with a total value of $100,200.00. Following the transaction, the chief executive officer now owns 601,253 shares in the company, valued at $3,012,277.53. The trade was a 3.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC raised its holdings in OptimizeRx by 24.0% during the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after purchasing an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in OptimizeRx in the third quarter valued at $810,000. First Light Asset Management LLC boosted its stake in OptimizeRx by 5.1% in the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock valued at $18,270,000 after acquiring an additional 89,377 shares in the last quarter. Bullseye Asset Management LLC grew its holdings in shares of OptimizeRx by 55.6% during the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after purchasing an additional 76,458 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of OptimizeRx by 42.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock valued at $1,868,000 after purchasing an additional 72,672 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.