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

OptimizeRx (NASDAQ:OPRX) had its price objective reduced by JMP Securities from $16.00 to $8.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other equities analysts have also commented on the stock. B. Riley started coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target on the stock. Barclays reduced their price target on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. Finally, Royal Bank of Canada reduced their price target on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.42.

OptimizeRx Price Performance

Shares of OptimizeRx stock opened at $3.83 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.07 and a current ratio of 3.23. The firm’s 50-day simple moving average is $6.60 and its 200-day simple moving average is $8.97. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The firm has a market cap of $70.17 million, a P/E ratio of -2.88 and a beta of 1.32.

Hedge Funds Weigh In On OptimizeRx

Institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new position in shares of OptimizeRx in the second quarter worth about $25,000. BNP Paribas Financial Markets raised its stake 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 last quarter. Quest Partners LLC raised its stake in shares of OptimizeRx by 15,965.6% in the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after acquiring an additional 9,739 shares during the last quarter. Connors Investor Services Inc. raised its stake in shares of 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 buying an additional 2,500 shares during the last quarter. Finally, Barclays PLC raised its stake 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 buying an additional 21,060 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

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.