Royal Bank of Canada Reiterates “Outperform” Rating for OptimizeRx (NASDAQ:OPRX)

OptimizeRx (NASDAQ:OPRX)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $17.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 51.38% from the stock’s current price.

Separately, Barclays started coverage on shares of OptimizeRx in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, OptimizeRx has an average rating of “Moderate Buy” and an average target price of $16.00.

OptimizeRx Stock Down 1.7 %

NASDAQ:OPRX opened at $11.23 on Monday. The stock has a market cap of $203.82 million, a P/E ratio of -14.04 and a beta of 0.98. The firm’s fifty day simple moving average is $14.33 and its 200 day simple moving average is $11.75. OptimizeRx has a twelve month low of $6.92 and a twelve month high of $16.65.

Insider Buying and Selling at OptimizeRx

In other OptimizeRx news, General Counsel Marion Odence-Ford sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $15.19, for a total transaction of $60,760.00. Following the completion of the transaction, the general counsel now owns 11,114 shares of the company’s stock, valued at $168,821.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

Several large investors have recently modified their holdings of OPRX. JPMorgan Chase & Co. raised its position in shares of OptimizeRx by 17.0% in the 1st quarter. JPMorgan Chase & Co. now owns 13,235 shares of the company’s stock worth $499,000 after purchasing an additional 1,920 shares during the last quarter. Raymond James & Associates raised its position in OptimizeRx by 21.1% in the 1st quarter. Raymond James & Associates now owns 12,116 shares of the company’s stock worth $457,000 after buying an additional 2,111 shares during the last quarter. Bank of New York Mellon Corp raised its position in OptimizeRx by 8.3% in the 1st quarter. Bank of New York Mellon Corp now owns 178,630 shares of the company’s stock worth $6,735,000 after buying an additional 13,725 shares during the last quarter. MetLife Investment Management LLC raised its position in OptimizeRx by 58.3% in the 1st quarter. MetLife Investment Management LLC now owns 9,158 shares of the company’s stock worth $345,000 after buying an additional 3,371 shares during the last quarter. Finally, Rhumbline Advisers raised its position in OptimizeRx by 12.8% in the 1st quarter. Rhumbline Advisers now owns 42,886 shares of the company’s stock worth $1,617,000 after buying an additional 4,878 shares during the last quarter. Hedge funds and other 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.