JMP Securities Reaffirms “Market Outperform” Rating for OptimizeRx (NASDAQ:OPRX)

OptimizeRx (NASDAQ:OPRX)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $15.00 target price on the stock. JMP Securities’ target price indicates a potential upside of 57.40% from the company’s previous close.

OPRX has been the topic of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of OptimizeRx in a research report on Monday, April 1st. Barclays began coverage on OptimizeRx in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price on shares of OptimizeRx in a research report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.86.

OptimizeRx Stock Performance

Shares of OPRX stock opened at $9.53 on Tuesday. The company has a market capitalization of $172.97 million, a P/E ratio of -11.91 and a beta of 0.98. OptimizeRx has a 52 week low of $6.92 and a 52 week high of $16.65. The company’s 50 day moving average price is $13.48 and its two-hundred day moving average price is $11.97.

Hedge Funds Weigh In On OptimizeRx

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of OptimizeRx by 2.6% during the 3rd quarter. BlackRock Inc. now owns 2,773,502 shares of the company’s stock worth $41,105,000 after purchasing an additional 70,139 shares in the last quarter. Vanguard Group Inc. raised its position in OptimizeRx by 3.0% during the first quarter. Vanguard Group Inc. now owns 1,115,086 shares of the company’s stock worth $42,049,000 after acquiring an additional 32,310 shares in the last quarter. AWM Investment Company Inc. lifted its stake in OptimizeRx by 75.8% in the third quarter. AWM Investment Company Inc. now owns 782,571 shares of the company’s stock valued at $6,088,000 after acquiring an additional 337,303 shares during the last quarter. State Street Corp grew its position in shares of OptimizeRx by 3.0% in the 3rd quarter. State Street Corp now owns 679,698 shares of the company’s stock valued at $10,073,000 after acquiring an additional 19,815 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in shares of OptimizeRx during the 3rd quarter worth about $4,323,000. Institutional investors own 76.47% of the company’s stock.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers (HCPs), and patients. Its products and applications include Evidence-Based Physician Engagement solution to assist HCPs in identifying patients who may be qualified for specific therapies, raise awareness of patient access pathways, and identify early indicators of non-adherence among patient populations; and Point of Care Banner messaging solution to deliver a variety of awareness and messaging within the clinical workflow.