OptimizeRx (NASDAQ:OPRX) Price Target Cut to $13.00 by Analysts at B. Riley

OptimizeRx (NASDAQ:OPRX) had its price target reduced by B. Riley from $17.00 to $13.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 163.16% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of OptimizeRx in a research note on Thursday, November 14th. Stifel Nicolaus reduced their price objective on OptimizeRx from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Stephens began coverage on OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 target price on the stock. Barclays reduced their price target on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities dropped their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, OptimizeRx presently has a consensus rating of “Moderate Buy” and an average target price of $9.19.

OptimizeRx Stock Up 2.3 %

Shares of NASDAQ:OPRX opened at $4.94 on Tuesday. The company’s fifty day moving average is $5.28 and its two-hundred day moving average is $7.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65. The stock has a market capitalization of $91.00 million, a price-to-earnings 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 firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the transaction, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at approximately $3,012,277.53. This represents a 3.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

Institutional Trading of OptimizeRx

A number of institutional investors have recently made changes to their positions in OPRX. Bank of New York Mellon Corp increased its stake in shares of OptimizeRx by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 111,719 shares of the company’s stock valued at $1,117,000 after acquiring an additional 10,041 shares during the period. Rhumbline Advisers increased its position in shares of OptimizeRx by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $315,000 after purchasing an additional 2,658 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of OptimizeRx by 23.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company’s stock worth $4,961,000 after buying an additional 94,253 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of OptimizeRx by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock valued at $3,241,000 after buying an additional 35,957 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in OptimizeRx by 101.8% during the second quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock valued at $1,421,000 after buying an additional 71,700 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.