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

OptimizeRx Co. (NASDAQ:OPRX) has been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.06.

OPRX has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective (down from $7.00) on shares of OptimizeRx in a report on Wednesday, January 8th. Barclays dropped their target price on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. B. Riley reduced their price objective on OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, December 24th. William Blair restated an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Finally, JMP Securities lowered their price objective on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Thursday, November 14th.

OptimizeRx Trading Up 3.2 %

NASDAQ OPRX opened at $5.73 on Tuesday. OptimizeRx has a one year low of $3.78 and a one year high of $16.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The company has a market capitalization of $105.55 million, a price-to-earnings ratio of -4.31 and a beta of 1.36. The company’s 50-day simple moving average is $5.22 and its two-hundred day simple moving average is $6.63.

Insider Activity at OptimizeRx

In other news, CEO William J. Febbo purchased 20,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $5.01 per share, for a total transaction of $100,200.00. Following the transaction, the chief executive officer now owns 601,253 shares in the company, valued at $3,012,277.53. This trade represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OptimizeRx

Several large investors have recently made changes to their positions in OPRX. Rice Hall James & Associates LLC lifted its stake 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 buying an additional 119,306 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in OptimizeRx by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock valued at $3,241,000 after acquiring an additional 35,957 shares during the period. Essex Investment Management Co. LLC increased its holdings in shares of OptimizeRx by 42.9% during the 3rd 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. Bullseye Asset Management LLC boosted its position in shares of OptimizeRx by 55.6% during the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after acquiring an additional 76,458 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of OptimizeRx by 101.8% in the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock worth $1,421,000 after buying an additional 71,700 shares in the last quarter. 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.