Royal Bank of Canada Has Lowered Expectations for OptimizeRx (NASDAQ:OPRX) Stock Price

OptimizeRx (NASDAQ:OPRX) had its target price decreased by stock analysts at Royal Bank of Canada from $14.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 83.01% from the stock’s current price.

Several other research firms also recently weighed in on OPRX. B. Riley started coverage on OptimizeRx in a research note on Thursday, July 25th. They set a “buy” rating and a $18.50 price target on the stock. Roth Mkm reiterated a “buy” rating and issued a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday. Barclays reduced their price target on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus decreased their price objective on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JMP Securities cut their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, OptimizeRx currently has an average rating of “Moderate Buy” and an average price target of $10.42.

OptimizeRx Stock Performance

OPRX opened at $3.83 on Thursday. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.27. OptimizeRx has a 52-week low of $3.78 and a 52-week high of $16.65. The company has a market cap of $70.07 million, a P/E ratio of -2.88 and a beta of 1.32. The firm’s 50-day moving average price is $6.60 and its 200-day moving average price is $8.99.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds have recently bought and sold shares of OPRX. BNP Paribas Financial Markets lifted its stake in shares of OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after purchasing an additional 2,414 shares during the period. Connors Investor Services Inc. increased its holdings in OptimizeRx by 15.1% in the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after buying an additional 2,500 shares in the last quarter. Summit Securities Group LLC purchased a new position in OptimizeRx in the second quarter valued at $25,000. Rhumbline Advisers raised its position in shares of OptimizeRx by 9.2% in the second quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock worth $315,000 after acquiring an additional 2,658 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of OptimizeRx by 8.0% during the 3rd quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock worth $520,000 after acquiring an additional 4,999 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

OptimizeRx Company Profile

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.