OptimizeRx (NASDAQ:OPRX) Coverage Initiated by Analysts at B. Riley

B. Riley initiated coverage on shares of OptimizeRx (NASDAQ:OPRX) in a research note published on Thursday, StockNewsAPI reports. The firm issued a buy rating and a $18.50 price target on the stock. B. Riley also issued estimates for OptimizeRx’s Q2 2024 earnings at ($0.26) EPS.

Other analysts also recently issued reports about the company. JMP Securities reissued a market outperform rating and issued a $16.00 target price on shares of OptimizeRx in a report on Friday, June 21st. Royal Bank of Canada reiterated an outperform rating and issued a $17.00 price objective on shares of OptimizeRx in a research report on Monday, April 1st. Finally, Stifel Nicolaus restated a buy rating and set a $13.00 target price on shares of OptimizeRx in a report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $16.07.

OptimizeRx Price Performance

Shares of OptimizeRx stock opened at $10.70 on Thursday. The company has a market cap of $195.49 million, a P/E ratio of -10.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.88 and a current ratio of 2.88. OptimizeRx has a one year low of $6.92 and a one year high of $16.65. The firm has a fifty day moving average of $10.95 and a two-hundred day moving average of $12.32.

OptimizeRx (NASDAQ:OPRX) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). The company had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $18.66 million. OptimizeRx had a negative return on equity of 6.96% and a negative net margin of 23.10%. During the same period in the prior year, the firm posted ($0.34) EPS. On average, analysts forecast that OptimizeRx will post -0.46 earnings per share for the current year.

Institutional Trading of OptimizeRx

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of OptimizeRx by 215.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,142 shares of the company’s stock worth $31,000 after purchasing an additional 1,462 shares during the last quarter. Summit Securities Group LLC purchased a new position in OptimizeRx during the second quarter worth about $25,000. Cetera Trust Company N.A purchased a new stake in OptimizeRx in the 4th quarter valued at about $77,000. Tower Research Capital LLC TRC increased its stake in shares of OptimizeRx by 407.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,765 shares of the company’s stock valued at $97,000 after acquiring an additional 5,432 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of OptimizeRx during the 4th quarter valued at about $225,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

OptimizeRx Company Profile

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.