OptimizeRx’s (OPRX) Buy Rating Reaffirmed at Lake Street Capital

Lake Street Capital reiterated their buy rating on shares of OptimizeRx (NASDAQ:OPRX) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $11.00 price target on the stock.

A number of other research firms have also recently commented on OPRX. 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. Royal Bank of Canada decreased their target price on OptimizeRx from $14.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. JMP Securities dropped their price target on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Thursday, November 14th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a research note on Thursday, November 14th. Finally, Barclays decreased their price target on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.19.

OptimizeRx Stock Performance

OPRX opened at $4.94 on Tuesday. 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 firm has a 50 day moving average of $5.31 and a two-hundred day moving average of $7.69. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65. The firm has a market capitalization of $91.00 million, a PE ratio of -3.71 and a beta of 1.34.

Insider Activity at OptimizeRx

In related news, CEO William J. Febbo bought 20,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $5.01 per share, with a total value of $100,200.00. Following the purchase, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at $3,012,277.53. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of OptimizeRx

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