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

Shares of OptimizeRx Co. (NASDAQ:OPRX) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.19.

Several equities research analysts have commented on OPRX shares. 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 report on Thursday, November 14th. 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, November 14th. Roth Mkm reissued a “buy” rating and set a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. B. Riley lowered their price target on OptimizeRx from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, December 24th. Finally, Stephens began coverage on OptimizeRx in a research note on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price objective on the stock.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OPRX. First Light Asset Management LLC raised its holdings in OptimizeRx by 5.1% in the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after purchasing an additional 89,377 shares during the period. Rice Hall James & Associates LLC raised its stake in OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after buying an additional 119,306 shares during the period. Dimensional Fund Advisors LP lifted its holdings in OptimizeRx by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock worth $3,241,000 after acquiring an additional 35,957 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in OptimizeRx by 42.9% in 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 period. Finally, Bullseye Asset Management LLC raised its position 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 worth $1,652,000 after purchasing an additional 76,458 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

OptimizeRx Stock Performance

Shares of OPRX opened at $5.49 on Friday. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $16.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The company has a market cap of $101.13 million, a price-to-earnings ratio of -4.13 and a beta of 1.36. The firm has a fifty day moving average of $5.15 and a 200-day moving average of $7.35.

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.