OptimizeRx Co. (NASDAQ:OPRX) Receives $9.06 Consensus Target Price from Brokerages

OptimizeRx Co. (NASDAQ:OPRX) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.06.

A number of research analysts have recently issued reports on the company. Stifel Nicolaus dropped their price objective on OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. JMP Securities dropped their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market 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 from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. William Blair reaffirmed an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Finally, Lake Street Capital reissued a “buy” rating and set a $11.00 price objective on shares of OptimizeRx in a report on Tuesday, December 24th.

OptimizeRx Price Performance

Shares of NASDAQ OPRX opened at $5.71 on Tuesday. The company has a market capitalization of $105.18 million, a PE ratio of -4.29 and a beta of 1.36. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The firm has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $6.74.

Insiders Place Their Bets

In related news, CEO William J. Febbo bought 20,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the purchase, the chief executive officer now directly owns 601,253 shares in the company, valued at $3,012,277.53. The trade was a 3.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On OptimizeRx

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in OptimizeRx by 358.5% in the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after buying an additional 21,060 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in OptimizeRx in the 3rd quarter valued at approximately $810,000. Rice Hall James & Associates LLC lifted its position in shares of OptimizeRx by 24.0% during the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after acquiring an additional 119,306 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after acquiring an additional 2,414 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of OptimizeRx by 101.8% during the 2nd 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 during the period. Institutional investors 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.