Barclays Cuts OptimizeRx (NASDAQ:OPRX) Price Target to $5.00

OptimizeRx (NASDAQ:OPRX) had its price target lowered by research analysts at Barclays from $11.00 to $5.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 18.70% from the company’s previous close.

Several other research firms have also recently weighed in on OPRX. JMP Securities decreased their target price on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday. Royal Bank of Canada reduced their price target on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Finally, B. Riley began coverage on OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.70.

OptimizeRx Stock Performance

Shares of OPRX stock opened at $6.15 on Thursday. The firm has a market cap of $112.68 million, a PE ratio of -6.15 and a beta of 1.32. OptimizeRx has a 12 month low of $5.04 and a 12 month high of $16.65. The company’s fifty day simple moving average is $6.75 and its 200-day simple moving average is $9.07. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Rice Hall James & Associates LLC raised its holdings 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 valued at $4,751,000 after acquiring an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in OptimizeRx during the third quarter valued at approximately $810,000. First Light Asset Management LLC grew its stake in shares of OptimizeRx by 5.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock valued at $18,270,000 after purchasing an additional 89,377 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of OptimizeRx by 42.9% in 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 in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in OptimizeRx by 101.8% during the second 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 in the last quarter. 76.47% of the stock is currently 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.