B. Riley Issues Pessimistic Forecast for OptimizeRx (NASDAQ:OPRX) Stock Price

OptimizeRx (NASDAQ:OPRX) had its price objective cut by analysts at B. Riley from $17.00 to $13.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 163.16% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the company. Stephens assumed coverage on OptimizeRx in a report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a report on Thursday, November 14th. Stifel Nicolaus dropped their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada reduced their price target on shares of OptimizeRx from $14.00 to $7.00 and set an “outperform” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays dropped their price objective on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.19.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $4.94 on Tuesday. The company has a market cap of $91.00 million, a P/E ratio of -3.71 and a beta of 1.34. The firm’s 50 day moving average is $5.28 and its two-hundred day moving average is $7.67. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week 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.

Insider Activity 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 purchased at an average price of $5.01 per share, with a total value 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

A number of institutional investors have recently made changes to their positions in OPRX. BNP Paribas Financial Markets grew its position in shares of OptimizeRx by 189.2% during the third 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 in the last quarter. Quest Partners LLC increased its position in shares of OptimizeRx by 15,965.6% in the 3rd 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 last quarter. Connors Investor Services Inc. raised its stake in shares of OptimizeRx by 15.1% in the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after purchasing an additional 2,500 shares in the last quarter. Barclays PLC lifted its position in shares of OptimizeRx by 358.5% during the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after purchasing an additional 21,060 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in OptimizeRx in the second quarter worth about $282,000. 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.