OptimizeRx Co. (NASDAQ:OPRX) Receives $9.19 Average Target Price from Brokerages

OptimizeRx Co. (NASDAQ:OPRX) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.19.

OPRX has been the subject of several research analyst reports. Stifel Nicolaus cut their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. B. Riley decreased their price target on OptimizeRx from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, December 24th. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $20.00) on shares of OptimizeRx in a research note on Thursday, November 14th. Barclays dropped their price objective on OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Finally, JMP Securities cut their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Thursday, November 14th.

OptimizeRx Trading Up 5.4 %

Shares of NASDAQ:OPRX opened at $5.49 on Friday. The stock has a 50 day moving average of $5.15 and a 200 day moving average of $7.35. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a market cap of $101.13 million, a PE ratio of -4.13 and a beta of 1.36. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65.

Insiders Place Their Bets

In other OptimizeRx news, CEO William J. Febbo acquired 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the purchase, the chief executive officer now owns 601,253 shares in the company, valued at $3,012,277.53. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.10% of the stock is owned by company insiders.

Institutional Trading of OptimizeRx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rice Hall James & Associates LLC boosted its stake in shares of OptimizeRx by 24.0% during the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after acquiring an additional 119,306 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in OptimizeRx during the 3rd quarter worth $810,000. First Light Asset Management LLC grew its stake in shares of 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 buying an additional 89,377 shares in the last quarter. Bullseye Asset Management LLC grew 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 acquiring an additional 76,458 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in OptimizeRx by 42.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock worth $1,868,000 after buying an additional 72,672 shares in the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.