B. Riley Cuts OptimizeRx (NASDAQ:OPRX) Price Target to $13.00

OptimizeRx (NASDAQ:OPRX) had its price target dropped by research analysts at B. Riley from $17.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 158.45% from the company’s previous close.

Other analysts also recently issued reports about the company. Royal Bank of Canada decreased their price target on OptimizeRx from $14.00 to $7.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. Stephens assumed coverage on shares of OptimizeRx in a report on Friday. They set an “equal weight” rating and a $5.50 price objective on the stock. Roth Mkm reissued a “buy” rating and set a $16.00 price objective (down previously 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 note on Thursday, November 14th. Finally, Barclays reduced their price objective on OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.93.

OptimizeRx Stock Up 4.1 %

OptimizeRx stock opened at $5.03 on Tuesday. The firm has a 50 day moving average price of $5.34 and a two-hundred day moving average price of $7.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. OptimizeRx has a 52-week low of $3.78 and a 52-week high of $16.65. The firm has a market cap of $92.66 million, a price-to-earnings ratio of -3.78 and a beta of 1.34.

Insider Activity

In related news, CEO William J. Febbo acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $5.01 per share, for a total transaction 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 represents a 3.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OptimizeRx

Institutional investors and hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC raised its position in OptimizeRx by 24.0% during the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after purchasing an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of OptimizeRx during the third quarter valued at approximately $810,000. First Light Asset Management LLC boosted its holdings in OptimizeRx by 5.1% in the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock valued at $18,270,000 after acquiring an additional 89,377 shares in the last quarter. Bullseye Asset Management LLC raised its stake in OptimizeRx by 55.6% in the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after buying an additional 76,458 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its holdings in OptimizeRx by 42.9% in the third quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock worth $1,868,000 after purchasing an additional 72,672 shares during the period. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.