Lake Street Capital Reaffirms Buy Rating for OptimizeRx (NASDAQ:OPRX)

OptimizeRx (NASDAQ:OPRX)‘s stock had its “buy” rating restated by analysts at Lake Street Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $11.00 price target on the stock. Lake Street Capital’s price objective indicates a potential upside of 122.67% from the company’s current price.

OPRX has been the subject of a number of other research reports. Royal Bank of Canada cut their target price on shares of OptimizeRx from $14.00 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. Barclays cut their price objective on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Roth Mkm reissued a “buy” rating and set a $16.00 target price (down previously from $20.00) on shares of OptimizeRx in a report on Thursday, November 14th. Stephens initiated coverage on OptimizeRx in a report on Friday. They issued an “equal weight” rating and a $5.50 price target for the company. Finally, B. Riley reduced their price target on OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.19.

OptimizeRx Stock Performance

Shares of OPRX traded up $0.11 during mid-day trading on Tuesday, hitting $4.94. The stock had a trading volume of 204,473 shares, compared to its average volume of 165,041. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. The firm has a market cap of $91.00 million, a P/E ratio of -3.71 and a beta of 1.34. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $16.65. The business has a fifty day moving average price of $5.34 and a 200-day moving average price of $7.73.

Insider Buying and Selling

In related news, CEO William J. Febbo bought 20,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $5.01 per share, with a total value of $100,200.00. Following the completion of the purchase, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at $3,012,277.53. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On OptimizeRx

Institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of OptimizeRx by 358.5% during the 3rd quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after acquiring an additional 21,060 shares during the last quarter. Bullseye Asset Management LLC lifted its stake in OptimizeRx by 55.6% during the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after purchasing an additional 76,458 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in OptimizeRx by 189.2% during the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after purchasing an additional 2,414 shares during the last quarter. Quest Partners LLC increased its position in shares of OptimizeRx by 15,965.6% during the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock valued at $76,000 after purchasing an additional 9,739 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its position 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 valued at $520,000 after purchasing an additional 4,999 shares during 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.