Royal Bank of Canada Reaffirms “Sector Perform” Rating for OptimizeRx (NASDAQ:OPRX)

OptimizeRx (NASDAQ:OPRX)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $6.00 target price on the stock, down from their previous target price of $7.00. Royal Bank of Canada’s price objective points to a potential upside of 3.09% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. William Blair reiterated an “outperform” rating on shares of OptimizeRx in a report on Thursday, November 14th. Stifel Nicolaus dropped their target price on OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Barclays decreased their price target on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. Finally, B. Riley reduced their target price on shares of OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, December 24th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.06.

OptimizeRx Stock Up 4.5 %

OptimizeRx stock opened at $5.82 on Wednesday. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $5.16 and a 200-day moving average of $7.28. The stock has a market capitalization of $107.21 million, a PE ratio of -4.38 and a beta of 1.36.

Insider Transactions at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo purchased 20,000 shares of OptimizeRx stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 601,253 shares of the company’s stock, valued at approximately $3,012,277.53. This trade represents a 3.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 6.10% of the stock is owned by company insiders.

Institutional Trading of OptimizeRx

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in shares of OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares during the last quarter. Connors Investor Services Inc. lifted its position in OptimizeRx by 15.1% during the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after acquiring an additional 2,500 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of OptimizeRx by 9.2% during the second quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock worth $315,000 after acquiring an additional 2,658 shares during the period. Greenwood Capital Associates LLC grew its position in shares of OptimizeRx by 8.0% in the third quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock valued at $520,000 after purchasing an additional 4,999 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of OptimizeRx by 15,965.6% during the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after purchasing an additional 9,739 shares during the period. 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.