Brokerages Set OptimizeRx Co. (NASDAQ:OPRX) Price Target at $10.42

Shares of OptimizeRx Co. (NASDAQ:OPRX) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.42.

OPRX has been the topic of several recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price objective (down from $20.00) on shares of OptimizeRx in a report on Thursday, November 14th. JMP Securities dropped their target price on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a report on Thursday, November 14th. William Blair restated an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Barclays dropped their price objective 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. Finally, Stifel Nicolaus decreased 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.

OptimizeRx Stock Performance

Shares of OPRX stock opened at $4.99 on Monday. The business’s 50 day moving average is $5.55 and its two-hundred day moving average is $8.07. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65. The company has a market capitalization of $91.92 million, a P/E ratio of -3.75 and a beta of 1.34. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On OptimizeRx

A number of institutional investors have recently bought and sold shares of OPRX. Rice Hall James & Associates LLC increased its holdings in shares of OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after buying an additional 119,306 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in OptimizeRx during the third quarter worth $810,000. First Light Asset Management LLC raised its position 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 purchasing an additional 89,377 shares during the period. Bullseye Asset Management LLC raised its position in OptimizeRx by 55.6% in the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after purchasing an additional 76,458 shares during the period. Finally, Essex Investment Management Co. LLC lifted its stake 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 hedge funds and other institutional investors.

About OptimizeRx

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.