OptimizeRx (NASDAQ:OPRX) Price Target Cut to $13.00 by Analysts at B. Riley

OptimizeRx (NASDAQ:OPRX) had its price objective cut by equities research analysts at B. Riley from $17.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley’s target price would suggest a potential upside of 158.45% from the company’s previous close.

Several other research analysts have also weighed in on the company. Stephens started coverage on OptimizeRx in a research report on Friday. They issued an “equal weight” rating and a $5.50 target price on the stock. William Blair restated an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Barclays reduced 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 reiterated a “buy” rating and set a $16.00 price objective (down from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. Finally, JMP Securities lowered their target price on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.93.

OptimizeRx Stock Up 4.1 %

OptimizeRx stock opened at $5.03 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65. The company has a market cap of $92.66 million, a PE ratio of -3.78 and a beta of 1.34. The stock’s 50 day moving average price is $5.34 and its 200 day moving average price is $7.73.

Insider Buying and Selling at OptimizeRx

In related news, CEO William J. Febbo bought 20,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the purchase, the chief executive officer now owns 601,253 shares in the company, valued at $3,012,277.53. This represents a 3.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC increased its holdings in OptimizeRx by 24.0% in the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after purchasing an additional 119,306 shares during the period. Janney Montgomery Scott LLC purchased a new stake in OptimizeRx in the 3rd quarter valued at $810,000. First Light Asset Management LLC raised its holdings in shares of OptimizeRx by 5.1% in the second 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 last quarter. Bullseye Asset Management LLC raised its holdings in shares of OptimizeRx by 55.6% in the 3rd 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 period. Finally, Essex Investment Management Co. LLC increased its position in OptimizeRx by 42.9% in the third quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock worth $1,868,000 after buying an additional 72,672 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.