OptimizeRx (NASDAQ:OPRX) Share Price Crosses Below Fifty Day Moving Average on Analyst Downgrade

Shares of OptimizeRx Corp. (NASDAQ:OPRX) crossed below its 50-day moving average during trading on Friday after Lake Street Capital lowered their price target on the stock from $11.00 to $10.00. The stock has a 50-day moving average of $8.43 and traded as low as $7.22. Lake Street Capital currently has a buy rating on the stock. OptimizeRx shares last traded at $7.34, with a volume of 611,439 shares traded.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of OptimizeRx from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 20th. Weiss Ratings upgraded shares of OptimizeRx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. UBS Group set a $11.00 price objective on OptimizeRx in a research report on Friday, August 14th. Citizens Jmp upped their target price on shares of OptimizeRx from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. Finally, Stifel Nicolaus reduced their target price on OptimizeRx from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.21.

Institutional Trading of OptimizeRx

Institutional investors have recently modified their holdings of the company. Tocqueville Asset Management L.P. acquired a new stake in shares of OptimizeRx during the third quarter worth approximately $1,670,000. Royce & Associates LP lifted its holdings in OptimizeRx by 20.7% in the 3rd quarter. Royce & Associates LP now owns 1,315,057 shares of the company’s stock worth $10,981,000 after purchasing an additional 225,659 shares during the last quarter. Corient Private Wealth LP acquired a new position in OptimizeRx in the 2nd quarter valued at $77,000. AWM Investment Company Inc. acquired a new stake in shares of OptimizeRx in the second quarter valued at about $1,375,000. Finally, Bank of New York Mellon Corp acquired a new position in OptimizeRx during the 2nd quarter valued at $370,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

OptimizeRx Trading Down 17.2%

The firm has a market cap of $138.29 million, a P/E ratio of 29.36 and a beta of 1.20. The company’s 50 day moving average is $8.43 and its two-hundred day moving average is $7.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.06 and a quick ratio of 5.58.

OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings results on Friday, November 13th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $21.61 million during the quarter, compared to analyst estimates of $21.19 million. OptimizeRx had a net margin of 5.33% and a return on equity of 9.58%. On average, sell-side analysts predict that OptimizeRx Corp. will post 0.49 earnings per share for the current year.

About OptimizeRx

OptimizeRx is a healthcare technology company that connects life sciences companies with healthcare professionals and patients through digital communications. Its platform uses channels such as electronic health records and other clinical workflows to deliver relevant information at the point of care. The company’s services support programs for medication access and affordability, patient education and engagement, and communication between healthcare providers and life sciences organizations. OptimizeRx also provides tools intended to help life sciences companies reach clinicians and patients through digital channels.