Janney Montgomery Scott LLC Acquires Shares of 104,917 OptimizeRx Co. (NASDAQ:OPRX)

Janney Montgomery Scott LLC bought a new position in OptimizeRx Co. (NASDAQ:OPRX) during the third quarter, Holdings Channel reports. The fund bought 104,917 shares of the company’s stock, valued at approximately $810,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new stake in shares of OptimizeRx in the 2nd quarter worth about $25,000. Connors Investor Services Inc. grew its position in shares of OptimizeRx by 15.1% in the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after buying an additional 2,500 shares during the period. BNP Paribas Financial Markets grew its position in shares of OptimizeRx by 283.6% in the 1st quarter. BNP Paribas Financial Markets now owns 27,910 shares of the company’s stock worth $339,000 after buying an additional 20,634 shares during the period. Squarepoint Ops LLC bought a new position in OptimizeRx in the 2nd quarter worth about $282,000. Finally, Rhumbline Advisers boosted its stake in OptimizeRx by 9.2% in the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock worth $315,000 after purchasing an additional 2,658 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

OptimizeRx Price Performance

OPRX opened at $3.83 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.07 and a current ratio of 3.23. The stock has a market capitalization of $70.17 million, a P/E ratio of -2.88 and a beta of 1.32. The company’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $8.97. OptimizeRx Co. has a 52-week low of $3.78 and a 52-week high of $16.65.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OPRX. B. Riley began coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target on the stock. Barclays dropped 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. Stifel Nicolaus dropped their price target on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday. Roth Mkm reiterated a “buy” rating and issued a $16.00 price target (down previously from $20.00) on shares of OptimizeRx in a research note on Thursday. Finally, Royal Bank of Canada dropped their price target on shares of OptimizeRx from $14.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.42.

OptimizeRx 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.