OptimizeRx (NASDAQ:OPRX) Price Target Lowered to $8.00 at JMP Securities

OptimizeRx (NASDAQ:OPRX) had its price objective lowered by stock analysts at JMP Securities from $16.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 30.08% from the stock’s current price.

Other research analysts have also issued research reports about the company. Barclays reduced their price target on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada decreased their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. Finally, B. Riley initiated coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They set a “buy” rating and a $18.50 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.90.

OptimizeRx Trading Up 5.3 %

Shares of OptimizeRx stock opened at $6.15 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. The stock’s 50 day simple moving average is $6.75 and its 200-day simple moving average is $9.07. The stock has a market cap of $112.68 million, a P/E ratio of -6.15 and a beta of 1.32. OptimizeRx has a 1-year low of $5.04 and a 1-year high of $16.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OPRX. Rice Hall James & Associates LLC boosted its holdings in OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after acquiring an additional 119,306 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of OptimizeRx during the third quarter worth about $810,000. First Light Asset Management LLC lifted its position in shares of OptimizeRx by 5.1% during 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 in the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of 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 purchasing an additional 72,672 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of OptimizeRx by 101.8% in the second quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock valued at $1,421,000 after purchasing an additional 71,700 shares in the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.