Analysts Set OptimizeRx Co. (NASDAQ:OPRX) Price Target at $9.19

OptimizeRx Co. (NASDAQ:OPRX) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.06.

Several equities research analysts have recently commented on OPRX shares. Barclays cut their price target on OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. JMP Securities cut their price target on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday, November 14th. Roth Mkm restated a “buy” rating and set a $16.00 price target (down previously from $20.00) on shares of OptimizeRx in a research note on Thursday, November 14th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target (down previously from $7.00) on shares of OptimizeRx in a research note on Wednesday. Finally, Lake Street Capital restated a “buy” rating and set a $11.00 price target on shares of OptimizeRx in a research note on Tuesday, December 24th.

OptimizeRx Price Performance

OPRX stock opened at $5.41 on Friday. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. 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 business has a 50 day simple moving average of $5.16 and a 200-day simple moving average of $7.25. The company has a market capitalization of $99.66 million, a P/E ratio of -4.07 and a beta of 1.36.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OPRX. Rice Hall James & Associates LLC increased its position in shares of OptimizeRx by 24.0% in the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after buying an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of OptimizeRx in the third quarter valued at $810,000. First Light Asset Management LLC increased its position 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 boosted its stake 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 valued at $1,652,000 after acquiring an additional 76,458 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake 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 valued at $1,868,000 after acquiring an additional 72,672 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.